Leslie Seidman, General Electric board director and chair of the company’s audit committee, told CNBC on Thursday that a report from Madoff whistleblower Harry Markopolos accusing GE of fraud is “full of misleading, inaccurate and inflammatory statements.”

“That report does not reflect the GE that I know,” Seidman said on “Closing Bell. “

GE’s CEO, Larry Culp, also told CNBC that the accusations from Markopolos were false and driven by market manipulation.

Earlier Thursday, Markopolos released a 175-page report on a website claiming that GE issued fraudulent financial statements to hide the extent of its problems.

This is a developing story. Please check back for updates.

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