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SEC Fines GE $50 Million for Accounting Misdeeds

Date: August 4, 2009
Author: David Henry
QUOTE: Managers at GE's Transportation Systems pretended they had sold more than 100 locomotives that were actually running at idle on GE property in the December cold of 2002, the Securities & Exchange Commission charged on Aug. 4....The suit alleged that two sets of transactions were intentionally designed to defraud investors.

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