General Electric accused of fraud
3 months, 3 weeks ago by
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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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