General Electric Co. fell in early trading after a whistle-blower accused the company of masking financial problems.

Harry Markopolos, who had raised concerns over investment manager Bernie Madoff before his Ponzi scheme was exposed, said GE has understated liabilities in its insurance unit and hasn’t properly accounted for its investment in Baker Hughes.

The shares dropped 4.65 percent to $9.03 before the start of regular trading Thursday in New York after Markopolos’s allegations were detailed by the Wall Street Journal. GE had climbed 24 percent this year, following a 57 percent plunge in 2018.