Markets

GE has denied recent fraud claims made by a famed Madoff whistleblower. Here’s what it said to comfort investors.

General Electric‘s vice president of investor relations, Steve Winoker, issued a statement Monday responding to Harry Markopolos’ recent report accusing the company of fraud. Winoker addressed two key targets of the report: GE’s long-term care insurance and its Baker Hughes oil and gas company. GE remains “committed to providing accurate, […]
GE has denied recent fraud claims made by a famed Madoff whistleblower. Here’s what it said to comfort investors.
Markets

Goldman Sachs contrasts the Madoff whistleblower’s allegations of fraud at GE, saying its insurance reserves ‘compare favourably to peers’

A Friday Goldman Sachs note contrasted with the controversial General Electric whistleblower report, saying the conglomerate’s long-term care reserves “compare favourably to peers.” Analyst Alex Scott compared GE’s reserves to Prudential’s block of individual policies, finding Prudential had about $US66,000 reserves per life and GE held about $US70,000 on the […]
Goldman Sachs contrasts the Madoff whistleblower’s allegations of fraud at GE, saying its insurance reserves ‘compare favourably to peers’
Markets

Who is Harry Markopolos? The famed Madoff whistleblower has likely already made millions after publishing a report accusing General Electric of fraud

Age: 62 Family: Markopolos is married to Faith Markopolos, who also works in the financial industry. They have three sons. Where is he from: He’s from Eerie, Pennsylvania. He’s the oldest of three children, and his parents, Georgia and Louis Markopolos, ran Greek-American restaurants. Career: Markopolos started his career on […]
Who is Harry Markopolos? The famed Madoff whistleblower has likely already made millions after publishing a report accusing General Electric of fraud