General Electric Shares Plummet on New Report Claiming ‘Bigger Fraud than Enron’

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Breitbart

General Electric shares plummeted Thursday, dropping as much as 13 percent during the day following the release of a new report from financial whistleblower Harry Markopolos claiming the company is “a bigger fraud than Enron.”

Markopolos, who was instrumental in bringing down Bernie Madoff, claims that his team has unearthed substantial evidence of accounting fraud after seven months of analyzing GE’s books. He said they’ve uncovered $38 billion in fraud at the conglomerate, and that is “merely the tip of the iceberg.”

GE has denied the claims made in the report, telling the Wall Street Journal in a statement, “GE stands behind its financials. We operate to the highest level of integrity in our financial reporting and we have clearly laid out our financial obligations in great detail.”