SEC Charges Truth Social Auditor With “Massive Fraud”

May 3, 2024 Business, Government

The auditing firm for Trump Media and the auditor’s owner were charged Friday with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.

The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, without admitting or denying the allegations, the SEC said.

The bombshell SEC action raised questions about the accuracy of the financial information in thousands of reports that were issued by the companies Borgers audited, including Trump Media, whose majority shareholder is former President Donald Trump.

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BF Borgers, the auditor for former president Donald Trump’s media company, was charged with “massive fraud” Friday by the Securities and Exchange Commission, which accused the firm of being a “sham audit mill” whose failures put investors at risk. https://t.co/IA1Y8ckWIv

— The Washington Post (@washingtonpost) May 3, 2024