Erie-native and fraud investigator issues a report he says is "bigger fraud than Enron"

08.16.19 | Brandon Dickson

The subject of Harry Markopolos' 175-page report is General Electric Company, longtime owners of GE Transportation, and the most widely held stock in the Erie area.

Markopolos is the financial fraud investigator who uncovered the $65 billion ponzi scheme of Bernie Madoff.

Now, Markopolos explains that GE is going to need a great deal of money to cover future losses for long-term-care insurance deals.

He also said his team has spent the past seven months analyzing GE's accounting and believe the $38 billion in fraud that they have uncovered is only the tip of the iceberg.

GE officials called the findings of Markopolos meritless.