Audit firm BF Borgers allegedly failed to comply with accounting standards and fabricated audit documentation, regulators claim.
BF Borgers, the independent accounting firm for Trump Media & Technology Group, is facing allegations of 'massive fraud' from the Sec urities and Exchange Commission, which on Friday claimed the auditor ran a 'sham audit mill' that put investors at risk. The SEC said Borgers has been shut down, noting that the company agreed to a permanent suspension from appearing and practicing before the agency as accountants. The suspension is effective immediately.
Trump Media's March debut as a public company came after that time period, but the social media company said in its 2023 annual report that it had worked with Borgers prior to going public on the Nasdaq stock exchange.In its report, the company added that an audit committee on March 28 approved Borgers to audit its 2023 and 2022 financial statements.
Donald Trump Securities And Exchange Commission
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