Trump Media’s newly hired auditing firm was just busted by the SEC for ‘massive fraud’

Published May 3, 2024 6:13 PM

By DAVID HAMILTON
AP Business Reporter

SAN FRANCISCO (AP) — The Securities and Exchange Commission has charged the auditing firm hired by Trump Media and Technology Group just 37 days ago with “massive fraud” — though not for any work it performed for former President Donald Trump’s media company. The SEC charged the accounting firm BF Borgers and its owner, Benjamin F. Borgers, with “deliberate and systematic failures” in more than 1,500 audits. The charges include failing to abide by audit standards set by an oversight board, fabricating documentation to cover up those shortcomings, and falsely stating in audit reports that its work met those standards. Trump Media said it is looking forward to working with new auditors.

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