“The Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F Borgers (together, ‘Respondents’), 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. The SEC also charged the Respondents with falsely representing to their clients that the firm’s work would comply with PCAOB standards; fabricating audit documentation to make it appear that the firm’s work did comply with PCAOB standards; and falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards.”
“To settle the SEC’s charges, BF Borgers agreed to pay a $12 million civil penalty, and Benjamin Borgers agreed to pay a $2 million civil penalty. Both Respondents also agreed to permanent suspensions from appearing and practicing before the Commission as accountants, effective immediately,” says a press release from the US Securities and Exchange Commission.
What it doesn’t say is, per FT, that BF Borgers is (was) the Trump Media and Technology Group’s auditor responsible for preparing the Truth Social parent’s filings to the SEC and investors. Who the hell knows if this is bad news for a company we already know to be corrupt and dodgy as fuck.