Houston Principal Tony Phillips contributed to a CNN Business article, ""GE Hit With New Investigations From SEC and Justice Department." CNN Business reports that GE revealed on October 30, 20018 that the federal government is probing a $22 billion accounting writedown of the slumping power division. The huge charge reflects the deterioration of businesses GE acquired. The SEC and Justice Department often work closely together when investigating potential financial crimes. If the SEC finds something "problematic," it typically shares that with Justice Department investigators. "In general, the DOJ becomes interested when it looks like there is some effort to conceal the true health of a company," said Tony.
The full article can be found here.