Jay Solomon, the newspaper's chief foreign affairs correspondent, had a key source in Farhad Azima, a US citizen tied to the Iran-Contra scandal during the Reagan administration.
In a statement to iMediaEthics, the Wall Street Journal said: "We are dismayed by the actions and poor judgment of Jay Solomon".
It added that he had "not been forthcoming with us about his actions" and had lost the paper's trust.
The Wall Street Journal told HuffPost that Solomon was no longer employed by the paper and said it was conducting its own investigation into the allegations.
The Wall Street Journal has fired one of its top reporters after an Associated Press investigation revealed he had engaged in questionable business arrangements with a source.
Jay Solomon, the Journal's chief foreign affairs correspondent, entertained an offer from Farhad Azima, an Iranian-born aviation magnate who has reportedly had ties to the CIA, to buy a stake in a now-defunct private intelligence firm.
Vladimir Putin to attend opening match
"They [Russia] had to start well in front of their home fans and they did", New Zealand captain Wood told Dawn after the match. But Russia have achieved mixed results since his appointment with three wins, three draws and three defeats.
As part of that investigation, the AP obtained texts and emails between Solomon and Azima about a stake in a fledgling business investment that has since gone under.
In a statement to AP, Solomon conceded "mistakes in my reporting" and apologised to his colleagues at The Journal. But I understand why the emails and the conversations I had with Mr. Azima may look like I was involved in some seriously troubling activities. Among the ventures Solomon discussed was a $725 million contract that would allow surveillance planes to spy inside of Iran, according to AP. The men said Solomon eventually withdrew from the business.
The AP reviewed communications spanning more than eight years about the company, called Denx LLC.
A partner in the project, which was closed a year ago according to Florida business registration records, said that Solomon dropped out soon after the idea pushed forward.
"We all wish best of luck to Jay on his first defense sale", Azima wrote to Solomon, Bernsten and Modell.
Solomon has worked as a journalist for almost two decades and is the author of The Iran Wars, a book described on his website as an "exploration of the country's decades-long power struggle with the United States". Later that month, Solomon asked Azima if he had mentioned their business plans to a mutual friend. That report can be read here.
Comments