SEC Charges Trump Media's Auditor with 'Massive Fraud', Imposes Heavy Penalties

The SEC's crackdown on BF Borgers highlights systemic audit failures affecting over 1,500 filings, underscoring risks to investor trust and market integrity.

BF Borgers and its owner, Benjamin Borgers, fined $14 million and barred from SEC practice after being charged with fraud.
Audit deficiencies included falsifying documents and failing to comply with PCAOB standards, impacting numerous public filings.
Trump Media, a major client of BF Borgers, now seeks new auditing services following the scandal.
The SEC's investigation revealed that the firm recycled old audits and fabricated client meetings to pass inspections.
This enforcement action is part of a broader SEC effort to enhance accountability among financial gatekeepers.