SEC announcements or legal findings

SEC Charges Trump Media Auditor With Fraud, Bars Firm, Imposes $14M Penalty

May 3, 2024, 03:12 PM

The U.S. Securities and Exchange Commission (SEC) has charged BF Borgers CPA PC and its owner, Benjamin Borgers, with committing 'massive fraud' that affected over 1,500 SEC filings from January 2021 to June 2023. This extensive fraud led to the firm being permanently barred from practicing before the SEC and conducting public company audits. BF Borgers, known for auditing Trump Media, must now cease operations, forcing its clients, including Trump Media, to seek new auditors. The firm has also been ordered to pay a $14 million civil penalty for its misconduct.