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

AP Images / Richard Drew

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, complete and timely financial information" to its investors, Winoker said.



Watch GE trade live here.

General Electric issued a statement Monday addressing two corporate issues targeted in a recent report by Harry Markopolos, the accounting expert who famously blew the whistle on Bernie Madoff. The company's stock tumbled about 14% on August 15 after Markopolos' study, which alleged that GE committed multi-billion-dollar fraud. He deemed the conglomerate "on the verge of insolvency" and called the company's accounting practices "an Enronesque business approach." GE CEO Lawrence Culp responded later the same day, calling the document "market manipulation - pure and simple." He claimed Markopolos cared more about profiting from the report than "accurate financial analysis," and that the accounting expert never reached out to GE for a statement or to confirm facts.
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