Rangel Amends Financial Disclosures Amid Ethics Investigation

Representative Charles Rangel, chairman of the tax-writing House Ways and Means Committee, amended five years of financial statements, revealing more than $500,000 in personal investments amid inquiries into his ethics.

The new Aug. 12 filings by Rangel show that the New York Democrat bought $250,000 to $500,000 of a Merrill Lynch Allianz portfolio fund, starting in September 2006, with the proceeds from selling a personal residence in Florida, as well as $1,000 to $15,000 in Yum! Brands Inc. shares the same year. He amended his filings covering 2004 through 2008.

Read more: (Timothy J. Burger, “Rangel Amends Financial Disclosures Amid Ethics Investigation,” Bloomberg, 8/26/09)