Accounting Firm Whose Clients Included Trump Media to Shut Down After SEC Charges, Settlement

Published on May 3, 2024

An auditing firm that represents hundreds of clients including Trump Media, which owns former President Donald Trump’s Truth Social app, was hit with a number of charges by the U.S. Securities and Exchange Commission on Friday, May 3. The firm BF Borgers CPA PC and owner Benjamin F. Borgers (i.e. the respondents) were charged by the agency with “deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023.” According to Reuters, the firm has represented Trump Media since 2022 and was still its auditor as of last month, according to their filings. Reuters also reported that a “significant” number of firms would have to change accounting firms in the coming days as a result....

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