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VMA131Marine

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Gender: Male
Hometown: Rockfall, CT
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Member since: Thu Apr 15, 2004, 12:29 AM
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GE shares drop after Madoff whistleblower Harry Markopolos calls it a 'bigger fraud than Enron'

Yikes!

https://www.cnbc.com/2019/08/15/ge-shares-drop-after-madoff-whistleblower-harry-markopolos-raises-red-flags-on-its-accounting.html

General Electric shares fell after Madoff whistleblower Harry Markopolos targets the conglomerate in a new report, calling it "a bigger fraud than Enron."
The 175-page report claims GE was hiding the depths of its financial problems and would need to significantly raise its insurance reserves. It also points out alleged accounting issues with its oil and gas unit.
"My team has spent the past 7 months analyzing GE's accounting and we believe the $38 Billion in fraud we've come across is merely the tip of the iceberg," Markopolos says in the report.
Markopolos said he has given the report to securities regulators and that certain information he has uncovered was given to law enforcement only, and is not in the public report.
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