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GE's shares suffered their biggest losses on Thursday, the largest on a daily basis in eleven years, after reports of significant financial irregularities that could lead to insolvency.
A report from investigator Harry Marcopoulos revealed that there was some 38 billion dollars of irregularities in the company, which explains his frequent financial crises.
Marcopoulos has accused General Electric of hiding accounting irregularities, wasting billions of dollars, not disclosing real losses and directing the investment manager, Bernie Madoff.
GE CEO Larry Caleb denied the report, accusing Marcopoulos of working for personal ends and misrepresenting his information.
As a result of this report, the market value of "GE" lost billions of dollars, ending at 78.8 billion dollars Wednesday, before falling to 69.9 billion dollars at the end of Thursday's session .
The company's shares fell 11.3% to close at $ 8 and posted the highest price Thursday at $ 8.63 and the lowest price at $ 7.65.
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