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GE Stock Tanks Amidst Fraud Accusations: What This Means for Investors

GE Stock

GE stock dropped 11.3% today as General Electric (NYSE:GE) was accused of concealing serious financial mishandling.

Opaque Financial Reports

The accusations were made by fraud investigator Harry Markopolos, who also blew the whistle on Bernard Madoff’s Ponzi scheme. In a 175-page report, Mr. Markopolos claimed that GE was hiding $38 billion USD in potential losses and that the company’s cash and debt positions were much worse than the company had stated. “GE’s true debt to equity ratio is 17:1, not 3:1, which will undermine its credit status,” Markopolos said. GE stock currently sits at a year-low ...

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