The auditing firm for Trump Media and the auditor’s owner were charged 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, the SEC said.
The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began.
It is quite amazing how getting involved with Trump financially exposes you to risk for committing fraud...
It was the other way around, seemingly. Truth Social appears to have used an auditor that was just faking it - there are many companies that have documents completed by this auditor.
According to the SEC’s order, of 369 BF Borgers clients whose public filings from January 2021 through June 2023 incorporated BF Borgers’s audits and reviews, at least 75 percent of the filings incorporated BF Borgers’s audits and reviews that did not comply with PCAOB standards.
You don't end up with a fly-by-night auditor by accident. Either you hire them because they are very cheap or because you know they will report...creatively. Serious companies use PWC or KPMG or Deloitte or any of the other big boys, or well-regarded specialty shops.
" Hey OP, listen to my advice alright." -Tha General "“I like taking the guns early...to go to court would have taken a long time. So you could do exactly what you’re saying, but take the guns first, go through due process second.” -President Donald Trump. "...To guard, protect, and maintain his liberty, the freedman should have the ballot; that the liberties of the American people were dependent upon the Ballot-box, the Jury-box, and the Cartridge-box, that without these no class of people could live and flourish in this country." - Frederick Douglass MYT
LawBeefaroni wrote: Sun May 05, 2024 1:35 pm
Serious companies use PWC or KPMG or Deloitte or any of the other big boys, or well-regarded specialty shops
Disgraced former hedge fund manager Martin Shkreli claimed Wednesday that he and Barron Trump are responsible for a mysterious Trump-branded meme cryptocurrency.
The token, named “Trump Coin,” sparked confusion and interest since it was registered on the Solana blockchain platform earlier this week, as it bears the same DJT symbol as the stock symbol for Donald Trump’s social media platform, Truth Social. Rumors that Trump was linked to the coin sent its value skyrocketing by 385 percent within 24 hours, and it amassed a trading volume of $363 million, according to The Block.
" Hey OP, listen to my advice alright." -Tha General "“I like taking the guns early...to go to court would have taken a long time. So you could do exactly what you’re saying, but take the guns first, go through due process second.” -President Donald Trump. "...To guard, protect, and maintain his liberty, the freedman should have the ballot; that the liberties of the American people were dependent upon the Ballot-box, the Jury-box, and the Cartridge-box, that without these no class of people could live and flourish in this country." - Frederick Douglass MYT
