Accounting Firm Faces Large-Scale Fraud Charges by SEC; Borgers CPA and Trump Media & Technology Group Corp. at the Center of Controversy.

The SEC has accused accountant BF Borgers CPA of large-scale fraud, including as the auditor of Donald Trump’s social media company, Trump Media & Technology Group Corp. The SEC has permanently suspended the company and its founder Benjamin Borgers, who must pay a settlement of $14 million. 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.

Trump Media & Technology Group Corp., Borgers’ largest customer, has announced that it will search for a new auditor. The SEC did not specify if there were any fraud in the company’s annual accounts. However, the SEC commended its staff for their meticulous work in permanently disqualifying Borgers and his company.

The SEC also accused Borgers of providing false and misleading information to investors about Trump Media & Technology Group Corp.’s financial performance. According to the SEC, Borgers falsified records to inflate revenue figures by millions of dollars, concealed major red flags in the company’s books and failed to address concerns raised by other auditors.

The settlement imposed on Benjamin Borgers is one of the largest ever handed down by the SEC for accounting fraud. The agency also ordered him to relinquish control over any future auditing work he conducts within 30 days or face further legal action. In response to these allegations made against him, Mr.