San Francisco, Aug 17 (TIWN) A whistleblower has accused General Electric (GE) of hiding massive losses by engaging in a $38 billion accounting fraud, which is "bigger than Enron".

"In fact, GE's $38 billion in accounting fraud amounts to over 40 per cent of GE's market capitalisation, making it far more serious than either the Enron or WorldCom accounting frauds," said the report.   GE denied the charge saying the 175-page report contained false statements.   "GE will always take any allegation of financial misconduct seriously. But this is market manipulation - pure and simple," Lawrence Culp, Chairman and Chief executive Officer of GE said in a statement.   "Mr. Markopolos' report contains false statements of fact and these claims could have been corrected, if he had checked them with GE before publishing the report," said the statement.