The Securities and Exchange Commission (SEC) charged auditing firm BF Borgers and its owner, Benjamin F. Borgers, with "massive fraud" for deliberate failures in over 1,500 audits. Despite being hired by Trump Media and Technology Group just 37 days prior, the charges are unrelated to their work for the company. The firm agreed to a $12 million fine, with Benjamin Borgers facing a $2 million fine and both agreeing to permanent suspensions from handling SEC-related matters. The SEC found that BF Borgers fabricated documentation, failed to follow accounting rules, and falsely stated that their work met audit standards.
SEC Charges Auditing Firm Hired by Trump Media with "Massive Fraud" archyde.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archyde.com Daily Mail and Mail on Sunday newspapers.
Trump Media's newly hired auditing firm was just busted... accesswdun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from accesswdun.com Daily Mail and Mail on Sunday newspapers.
The charges include failing to abide by accounting rules, fabricating documentation to cover up its shortcomings and making false statements in its audits.