The Trump Media & Technology Group Corp., one of the largest customers of auditor BF Borgers CPA, has announced that it will look for a new auditor after the American stock exchange watchdog SEC permanently suspended the company and its founder Benjamin Borgers. The SEC accused Borgers of large-scale fraud, including as the auditor of Donald Trump’s social media company.
The SEC stated that Borgers and his audit firm were responsible for one of the largest gatekeeping failures in the financial markets, as investors rely on audited financial statements when making investment decisions. The agency commended its staff for their meticulous work in permanently disqualifying Borgers and his company.
In addition to being accused by the SEC, Borgers and his firm have also been sued by several other companies for their alleged fraudulent activities. However, no charges have been filed against them yet, and they maintain their innocence.
It is unclear if there were any fraud in the annual accounts of Trump Media & Technology Group Corp., which was not specified by the SEC in its statement. The company has not yet responded to the accusations made by the SEC concerning the fraudulent activities.