Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38 billion. Who is correct, GE or Harry?

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  • A.J.
    Lv 7
    11 months ago
    Favorite Answer

    Although he could be correct, he seems to be connected to and getting information from a hedge fund that is short selling GE stock and betting on a GE crash. Mergers and acquisitions does put GE in a risky position.

    https://finance.yahoo.com/quote/GE/balance-sheet?p...

    Cash $13.6 Billion

    Total Current Assets $96.9 Billion

    Tangible Accounting Assets $244.3 Billion

    Total liabilities $256.0 Billion

    Yahoo Finance reports a $33 Billion negative tangible

    At price of $8.79/share closing 8/16/2019, Market cap of 76.71B

    They have $110 Billion in debt (I own $20K of it due February 2021)

    We know GE is trying to turn the company around. They have $120 Billion in revenue in the latest year.

    Harry thinks their insurance and oil business is inflated

    If the USA goes into recession, it may show.

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  • Judy
    Lv 7
    11 months ago

    remains to be seen

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  • Anonymous
    11 months ago

    One or both............... In a year or two we will know.

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