SEC charges Trump Media auditor with ‘massive fraud’

BF Borgers agrees to $12m civil penalty and owner Benjamin Borgers agrees to pay $2m

Auditor BF Borgers and its owner Benjamin Borgers, whose clients include Trump Media, were charged by the US Securities and Exchange Commission (SEC) with “massive fraud” that affected more than 1,500 SEC filings, the SEC said on Friday.

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.