The independent accounting firm hired by Trump Media, BF Borgers, has been charged with "massive fraud" by the Securities and Exchange Commission (SEC). Called a "sham audit mill," BF Borgers has been permanently barred from practicing as auditors for businesses before the SEC. From CNN:
"The SEC accused BF Borgers of 'deliberate and systemic failures,' including 'fabricating' audit documentation and falsely representing to clients its work would comply with accounting standards.
The agency described this as 'massive' fraud taking place between January 2021 and June 2023 that impacted more than 1,500 SEC filings and more than 500 public companies.
The SEC imposed a severe penalty against BF Borgers, permanently suspending the firm from practicing as accountants before the agency effective immediately. The firm and its owner, Benjamin Borgers, also agreed to pay $14 million collectively in fines." (our emphasis)
Surprised that BF Borgers was selected by Trump Media to do their audits? Birds of a feather. Not having BF Borgers to "audit" the books at Trump Media, they'll have to pick an equivalent accounting firm to help them with the book cooking.
