YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

GE stock plummets after company accused of fraud

Posted online

General Electric's stock experienced its biggest one-day percentage drop since April 2008.

The stock decrease came after Harry Markopolos, who is known as the whistleblower in Bernie Madoff's 2008 Ponzi scheme, accused GE of engaging in fraud.

Markopolos claims GE is hiding nearly $40 billion of losses in its insurance business. GE board member Leslie Seidman said the allegations are "baseless" and "inflammatory."

Read more from CNN Business.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: Dame Chiropractic

Dame Chiropractic LLC emerged as the new name of Harshman Chiropractic Clinic LLC with the purchase of the business; Leo Kim added a second venture, Keikeu LLC, to 14 Mill Market; and Mercy Springfield Communities opened its second primary care clinic in Ozark.

Most Read
SBJ.net Poll
How do you feel about the city of Springfield's new elected leadership?

*

View results

Update cookies preferences