The accounting firm that worked with Trump Media has been charged with massive fraud by the SEC.
Don’t Miss Sarah Jones’s Essay On Kristi Noem Titled Predatory Is The Point On The Daily.
CBS News reported:
BF Borgers, the independent accounting firm for Trump Media & Technology Group, is facing allegations of “massive fraud” from the Securities and Exchange Commission, which on Friday claimed the auditor ran a “sham audit mill” that put investors at risk.
The SEC said Borgers has been shut down, noting that the company agreed to a permanent suspension from appearing and practicing before the agency as accountants. The suspension is effective immediately. Additionally, BF Borgers agreed to pay a $12 million civil penalty, while owner Benjamin Borgers will pay a $2 million civil penalty
Trump used the accounting firm before his social media company stock went public. This is the latest news that is more than smoke around Trump Media. It was also reported that Truth Social only 113,000 users and its numbers are dropping.
Trump Media looks like a sham company that may have been propped up by accounting fraud and lies. The stock continues to sell for way more than it is worth considering that the social media company has virtually no users and has ever turned a profit.
There is more than smoke around Truth Media. It is a five alarm fire, and the investor lawsuits should really be something when the MAFA fueled bubble bursts.
A Special Message From PoliticusUSA
If you are in a position to donate purely to help us keep the doors open on PoliticusUSA during what is a critical election year, please do so here.Â
We have been honored to be able to put your interests first for 14 years as we only answer to our readers and we will not compromise on that fundamental, core PoliticusUSA value.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelorâs Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association