General Electric accused of fraud
6 months ago by kyle | 4 facts | 0 comments | 4 votes

  • Harry Markopolos has published a report claiming that accounting fraud “bigger than Enron and WorldCom combined” lurks within G.E. -
  • GE has been running a decades long accounting fraud by only providing top line revenue and bottom line profits for its business. -
  • To make it impossible to compare GE’s numbers across multi-year time periods, GE changes its Financial Statement reporting formats every few years. -
  • The report alleges that the conglomerate’s accounts conceal $38 billion in fraud, equivalent to 40 percent of its value. -

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  • Poster: kyle