Trump Media's Auditor Committed 'Massive Fraud,' Faces SEC Charges for Fabricating Documents
By : Benzinga
Published On: 2024-05-03
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00:35
The SEC charged Trump Media's auditor, BF Borgers CPA, and its owner, Benjamin Borgers, with "massive fraud" affecting over 1,500 SEC filings. BF Borgers and Borgers agreed to be permanently barred from practicing before the SEC and pay $14 million in civil penalties. The SEC accused them of deliberately and systematically failing to comply with audit standards and fabricating documents. The SEC called it one of the largest failures by gatekeepers in financial markets. Trump Media's stock price fell 9% on the news.
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