Trump Media and Technology Group, the owner of social networking site Truth Social, has terminated its auditor, BF Borgers, following recent charges of 'massive fraud' by federal regulators. The Securities and Exchange Commission accused BF Borgers and its owner, Benjamin F. Borgers, of 'deliberate and systematic failures' in over 1,500 audits, leading to a settlement of $14 million in civil penalties and permanent suspensions from handling SEC-related matters.
The dismissal of BF Borgers came on the same day as the SEC charges, prompting Trump Media to engage Arizona-based accountant Semple, Marchal & Cooper as the replacement auditor. Notably, the charges against BF Borgers do not involve any work performed for Trump Media.
