Trump Media’s Auditor Charged with Fraud by US SEC

The auditing firm based in Colorado that checked Donald Trump’s media company has been banned forever by the Securities and Exchange Commission (SEC).

This happened after they were accused of committing what’s called “massive fraud”.Federal regulators say that the BF Borgers accounting firm from Lakewood was like a fake audit factory.

They made up audits for over 500 companies that are traded publicly, including  Donald Trump Media.

The firm’s owner took a deal agreed to pay $14 million in fines and be permanently suspended and in exchange didn’t have to admit doing anything wrong.

The SEC doesn’t suggest that the firm’s clients like Trump media knew about the fraud. But it’s still affecting them. This morning, when the market opened, Trump Media’s shares dropped almost 10%.