WASHINGTON, May 3 (Reuters) – Auditor BF Borgers and its owner Benjamin Borgers, whose clients include Trump Media , were charged by the U.S. Securities and Exchange Commission with “massive fraud” that affected more than 1,500 SEC filings, the agency said on Friday.
BF Borgers agreed to pay a $12 million civil penalty, and Benjamin Borgers agreed to pay $2 million, to settle the SEC’s charges. They also agreed to permanent suspensions from practicing as accountants on SEC filings, effective immediately.
Borgers did not immediately respond to a request for comment.
Reuters could not immediately ascertain which filings or companies had been affected. The SEC, however, said a “significant” number of listed companies will have to switch accountants in coming days as a result of the enforcement action.
Borgers served as Trump Media’s auditor from 2022 and was still its auditor as of last month, according to its filings.
Source: REUTER
