Reports: Possible Conflict of Interest for Negroponte

Documents show President Bush's (search) choice for intelligence chief is a multimillionaire who promised last year to sell stock in companies that have business stakes in Iraq's reconstruction.

It's unclear from John Negroponte's (search) most recent financial disclosures whether he followed through on sales of firms engaged in rebuilding Iraq, where he is U.S. ambassador.

Last spring when Negroponte was nominated as ambassador, he agreed to recuse himself from decisions that would impact his personal holdings. He also agreed to sell interests in Citigroup, General Electric (search) and G-E Capital.

Now President Bush has asked him to be national intelligence director. That assignment may force Negroponte to take a fresh look at his finances and any potential conflicts of interest.

Last spring, Negroponte's investments were worth at least $2.7 million.