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Market
SEC regulatory outcomes for Trump Media by May 2025
4
Resolution / Starting Odds
License Revocation • 20%
No Additional Actions • 20%
Warning Issued • 20%
Financial Penalty • 20%
Operational Restrictions • 20%
SEC announcements or legal findings
Story
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.
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Dismissed • 33%
Settlement • 33%
Formal charges filed • 34%
Charged with New Crimes • 33%
No Further Legal Consequences • 33%
Civil Penalties or Settlements • 34%
Further Charges Filed • 33%
Civil Lawsuits Filed • 33%
No Further Legal Actions • 34%
Significant negative impact • 33%
Minor or no impact • 33%
Positive impact (e.g., through restructuring) • 34%
Strict regulations passed • 25%
Moderate regulations passed • 25%
No new regulations • 25%
Regulations struck down • 25%
No Misconduct Found • 33%
Misconduct Found, No Consequence • 33%
Misconduct Found, Consequence Imposed • 33%
No action taken • 25%
Warning issued • 25%
Fine imposed • 25%
Other regulatory action • 25%
No further action • 25%
Minor fines or penalties • 25%
Major fines or restructuring required • 25%
License revocation or major sanctions • 25%