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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