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DealBook Briefing: G.E. Is Accused of $38 Billion Fraud

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[1] DealBook Briefing: G.E. Is Accused of $38 Billion Fraud

Messaggioda Foto Utentefpalone » 16 ago 2019, 19:39

In Italia c'è stata poca copertura mediatica per questa notizia dirompente:
DealBook Briefing: G.E. Is Accused of $38 Billion Fraud

Harry Markopolos raised the first alarms over Bernie Madoff’s Ponzi scheme. Now, Mr. Markopolos has published a report claiming that accounting fraud “bigger than Enron and WorldCom combined” lurks within G.E.

• The 170-page report alleges that the conglomerate’s accounts conceal $38 billion in fraud, equivalent to 40 percent of its value.

• That, he says, stems from understated liabilities in its insurance business, misrepresentation of its cash situation, and improper accounting for its acquisition of a stake in the oil field services provider Baker Hughes.

• “I think that they’re a bankruptcy waiting to happen,” Mr. Markopolos told CNBC.

• “Mr. Markopolos said he and his colleagues are working with an undisclosed hedge fund, which is betting G.E.’s share price will decline,” the WSJ reports, and his group “will receive a portion of any trading proceeds.”

• He also submitted the report to the S.E.C. and the Department of Justice. Those agencies give tipsters a cut of any financial penalties resulting from investigations, as part of a program to encourage whistle-blowing.


Da GE sono subito arrivate le smentite, il titolo ha avuto un enorme calo, seguito da un significativo rimbalzo.
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