The accounting agency that labored with Trump Media has been charged with huge fraud by the SEC.
CBS News reported:
BF Borgers, the unbiased accounting agency for Trump Media & Know-how Group, is dealing with allegations of “huge fraud” from the Securities and Change Fee, which on Friday claimed the auditor ran a “sham audit mill” that put traders in danger.
The SEC mentioned Borgers has been shut down, noting that the corporate agreed to a everlasting suspension from showing and training earlier than the company as accountants. The suspension is efficient instantly. Moreover, BF Borgers agreed to pay a $12 million civil penalty, whereas proprietor Benjamin Borgers pays a $2 million civil penalty
Trump used the accounting agency earlier than his social media firm inventory went public. That is the most recent information that’s greater than smoke round Trump Media. It was also reported that Truth Social only 113,000 users and its numbers are dropping.
Trump Media seems like a sham firm that will have been propped up by accounting fraud and lies. The inventory continues to promote for far more than it’s price contemplating that the social media firm has nearly no customers and has ever turned a revenue.
There may be greater than smoke round Fact Media. It’s a 5 alarm hearth, and the investor lawsuits ought to actually be one thing when the MAFA fueled bubble bursts.
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