Trump Media’s accountant is accused of massive fraud

The accounting firm that worked with Trump Media has been charged with massive fraud by the SEC.

Don’t miss Sarah Jones’ essay on Kristi Noem, titled Predatory The daily.

CBS News reported:
BF Borgers, the independent accounting firm of Trump Media & Technology Group, is facing charges of “massive fraud” from the Securities and Exchange Commission, which alleged Friday that the accountant ran a “sham audit mill” that endangered investors.

The SEC said Borgers has been closed and noted that the firm agreed to a permanent suspension from appearing and practicing before the agency as accountants. The suspension takes effect immediately. In addition, BF Borgers agreed to pay a $12 million civil penalty, while owner Benjamin Borgers will pay a $2 million civil penalty.

Trump used the accounting firm before the shares of his social media company went public. This is the latest news that is more than smoke surrounding Trump Media. It was also reported that Truth Social only has 113,000 users and the number is declining.

Trump Media looks like a sham company that may have been backed by accounting fraud and lies. The stock continues to sell for far more than it’s worth, as the social media company has virtually no users and has ever made a profit.

There is more than smoke surrounding Truth Media. It’s a five-alarm fire, and the investor lawsuits should be a real thing when the MAFA-fueled bubble bursts.

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