The Wall Street Journal has fired chief foreign affairs correspondent Jay Solomon for alleged financial dealings with an Iranian-born businessman.

The Associated Press reported that Solomon communicated with Farhad Azima, an aviation tycoon who had transported weapons for the Central Intelligence Agency, about a venture involved in the sale of defense equipment to the United Arab Emirates and espionage in Iran.

Jay Solomon on MSNBC

Azima, who was a source for Solomon for many years, allegedly offered the WSJ correspondent a 10 percent stake in a company called Denx LLC.

Solomon released a statement to the AP, admitting to making “mistakes in my reporting.” He denied any business transactions with Azima.

The AP scoop came as it launched an investigation into Azima and subsequently received “tens of thousands” of emails, which included conversations between the Iranian and Solomon.

In his AP statement, Solomon said those emails “may look like l was in in some seriously troubling activities.”

The WSJ said it’s dismayed by the actions and poor judgment of Solomon.

“The allegations raised by this reporting are serious,’ said a statement from Steve Severinghaus, WSJ communications director. “While our own investigation continues, we have concluded that Mr. Solomon violated his ethical obligations as a reporter, as well as our standards.”