The auditor for former president Donald Trump’s Trump Media was accused of running a “massive fraud” and a “sham audit mill” by the US’s top financial regulator on Friday.
BF Borgers and its owner Benjamin Borgers, whose clients include Trump Media, were charged by the US Securities and Exchange Commission (SEC) with a fraud that affected more than 1,500 SEC filings. Borgers has also acted for financial tech and crypto companies, SEC filings show.
BF Borgers agreed to pay a $12m civil penalty, and Benjamin Borgers agreed to pay a $2m civil penalty, to settle the SEC’s civil charges. They also agreed to permanent suspensions from practicing as accountants on SEC filings, effective immediately.
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