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Inhofe lists assets between $3 million and $10 million

U.S. Sen. Jim Inhofe, R-Okla.
 
By JIM MYERS World Washington Bureau
Published: 5/27/2009  7:23 PM
Last Modified: 5/27/2009  7:23 PM

WASHINGTON — Settlement of a lawsuit and a partnership involving family members gave a significant boost to the value of assets listed by U.S. Sen. Jim Inhofe in his annual financial disclosure report.

Inhofe, R-Okla., now lists assets ranging from between $3 million and $10 million.

Those include various stocks, real estate, a rental property business and bank accounts, but a large portion of the increase came from the settlement of a lawsuit involving the senator’s wife, Kay, and her family’s business, Guaranty Abstract.

That settlement added between $1 million and $5 million to the value of the assets, and the partnership with his wife and their son, Perry, which involves a rental connected to a Grand Lake property, added between $500,000 and $1 million.

As liabilities, Inhofe listed one mortgage of between $100,000 and $250,000 and an unused line of credit, which included no dollar amount.

Filed by members of Congress and other federal officials, the annual reports offer a look at assets and liabilities, but the information is reported in broad ranges.

Certain assets such as private residences are exempted.

Rep. John Sullivan, R-Okla., reported assets valued at between $101,000 and $265,000. Those included certificates of deposits and a bank account.

Sullivan reported the sale of Bank of Oklahoma stock, which occurred last June. He listed no liabilities.

Assets listed by Rep. Dan Boren, D-Okla., were valued at between $1.1 million and $2.5 million.

Boren reported purchasing a ranch valued at between $500,000 and $1 million. That land is located in Pittsburg County.

Other items included another ranch in McIntosh County, timber and real estate.

Boren also listed as a liability a loan of between $250,000 and $500,000.

According to his report, he is no longer a partner in a Wewoka investment group and a restaurant business.

Rep. Frank Lucas, R-Okla., listed assets valued at between $885,000 and $1.9 million, and those included farm land in Roger Mills County and mineral rights.

Liabilities reported by Lucas included a mortgage, notes and revolving credit accounts between $200,000 and $565,000.

Rep. Tom Cole, R-Okla., had assets valued at between $1.7 million and $4.6 million. Those included various stocks, land in Johnston County and mutual funds.

Cole listed no liabilities.

He again reported receiving a management fee of $20,000 from Cole, Hargrave, Snodgrass and Associations, a political consulting firm in which he remains a partner.

Assets listed by Rep. Mary Fallin, R-Okla., were valued at between $17,000 and $80,000, and included a retirement account and funds.

Fallin reported a credit card account of between $15,000 and $50,000 as her only liability.

She logged three privately funded trips last year, traveling to Sarasota, Fla., for the National Federation of Women Legislators; Las Vegas for Outdoor Advisers; and Branson, Mo., for the Oklahoma Asphalt Pavers Association.

Boren listed one trip to Louisville, Ky., for the NRA, and Cole reported going to Baltimore for the Heritage Foundation, a Washington, D.C., think tank.

Lucas traveled to Amsterdam for the Franklin Center for Global Exchange.

Inhofe and Sullivan reported no trips last year.

According to documents filed with the Senate, Sen. Tom Coburn, R-Okla., went to Las Colinas, Texas, for the Oklahoma Independent Petroleum Association.

Coburn declined to provide a copy of his latest financial disclosure report, which is expected to become available through the Senate in a few weeks.


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By JIM MYERS World Washington Bureau

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Reader comments for this story have been moved to the most updated version of the story, now under the headline "Report: Inhofe lawsuit pays off," which was published on 5/28/2009. So far, 30 comments have been made.
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