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OFS - GE rejects allegation that it is hiding losses from BHGE sale - August 2019



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A market watchdog who helped expose Bernie Madoff’s Ponzi scheme accused General Electric of an accounting fraud that covers up billions in losses through its stake in Baker Hughes, a GE company. The conglomerate vehemently denied the allegations. Investors and financial analysts seemed largely to shrug off the allegations of deception. GE shares closed lower 11% on Aug. 15, when the report came out, but rose 10% the next day. “GE’s $38 billion in......
 
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