UPDATE: House ethics panel continues probe of WI lawmaker

UPDATED: Tuesday, September 30, 2014 --- 5:04 p.m.

WASHINGTON (AP) -- A congressional review panel says there is substantial reason to believe that veteran Wisconsin Rep. Tom Petri violated House rules by acting on behalf of two companies in which he owned significant amounts of stock.

The independent Office of Congressional Ethics says Petri advocated for Oshkosh Corp. and the Manitowoc Co. despite owning at least $250,000 worth of Oshkosh stock and at least $100,000 worth of stock in Manitowoc. Both companies are based in Wisconsin.

Petri, a Republican retiring after 18 terms in the House, denied wrongdoing. He said he routinely sought and took advice from the House Ethics Committee regarding his stock ownership, adding that the committee approved his actions on each of those occasions.

The OCE is an outside organization that can refer cases to the Ethics Committee.

Copyright 2014: Associated Press

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UPDATED: Monday, August 18, 2014 --- 11:13 p.m.

WASHINGTON (AP) -- The House Ethics Committee says it will continue investigating a Wisconsin congressman's stock dealings following a media report that that raised questions about his portfolio.

Republican Congressman Tom Petri requested the investigation in February. Petri has since said he will not run for re-election in November, retiring after 18 terms in Congress.

The ethics committee said Monday it will extend its investigation. In a joint statement, the Republican chairman and ranking Democrat said an extension does not reflect any judgment by the committee.

Petri said in a statement he is confident the ethics committee will find that he acted properly.

Gannett Wisconsin Media published articles in February drawing a link between companies that have business before Congress and stock Petri owns in those companies.

Copyright 2014: Associated Press

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Posted Tuesday, February 18, 2014 --- 9:42 a.m.

FOND DU LAC, Wis. (AP) -- U.S. Rep. Tom Petri is taking the unusual step of requesting an ethics investigation into his own stock portfolio.

The Fond du Lac Republican is responding to a media report drawing a link between companies that have business before Congress and the amount of stock he owns in those companies.

In a Sunday letter to the House committee on ethics, Petri says his actions are based solely on public information and are no different than those of any other stockholder.

He asks the committee to review the matter and report back.

Gannett Wisconsin Media's Washington bureau previously reported that Petri bought hundreds of thousands of dollars worth of stock in Oshkosh Corp. before helping the company retain a hefty military contract and escape Pentagon cuts.

Copyright 2014: Associated Press


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