Larry Culp, CEO, General Electric
Scott Mlyn | CNBC
General Electric CEO Larry Culp bought nearly $2 million worth of the company’s stock after Madoff whistleblower Harry Markopolos called the company “a bigger fraud than Enron.”
A Thursday evening filing with the SEC revealed that Culp bought 252,200 shares for about $7.93 each. Culp, who took over the struggling industrial conglomerate last year, has roughly doubled his holding of GE shares this week, according to the filing.
Shares of GE were up about 2.5% in after-hours trading.
In a 175-page report, Markopolos targeted the company, accusing it of issuing fraudulent financial statements to hide the extent of its accounting problems….