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General Electric CEO calls the scathing report that accuses the company of Enron-like fraud 'market manipulation — pure and simple'

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CEO Larry Culp said the author's actions show he cared more about personal gain than conducting 'accurate financial analysis.'

GE CEO Larry Culp fired back at accounting expert Harry Markopolos on Thursday, calling his allegation of fraud an act of"market manipulation" done for personal gain. GE shares plunged by as much as 14% on the report. The report alleged GE was committing fraud"bigger than Enron and WorldCom combined," and that the company's accounting left it"on the verge of insolvency.

GE CEO Larry Culp fired back at accounting expert Harry Markopolos on Thursday, calling his allegation of fraud an act of"market manipulation" done for personal gain. GE shares plunged by as much as 14% on the report. The report alleged GE was committing fraud"bigger than Enron and WorldCom combined," and that the company's accounting left it"on the verge of insolvency.

 

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GE CEO calls Markopolos report 'market manipulation' and 'false'General Electric Co Chief Executive Larry Culp said on Thursday that a report al... Open the books, and lets see then. Someone made a lot of money short selling GE stock today. ThatssRich But what if it's true 😳
Source: Reuters - 🏆 2. / 97 Read more »