Legal Troubles

Trump might want to run for cover after this embarrassing fraud charge

As of this morning, Trump Media’s accounting firm BF Borgers—used for Truth Social and other Trump projects—has been officially accused of fraud by the SEC, to the tune of 14 million.

While Truth Social itself isn’t listed in the official charges, BF Borgers was accused of operating a fake “audit mill”, leading to instances of fraud “taking place between January 2021 and June 2023 that impacted more than 1,500 SEC filings and more than 500 public companies.”

Which doesn’t look too good for Trump, now facing his own hush money trial, as well as a number of other damning indictments.

This case might not reflect upon Trump directly, but it doesn’t speak well of any of his business endeavors if he’s found to be working with a fraudulent accountant across platforms.

The SEC charges detail that BF Borgers created fake or doctored audit documents creating a false sense of compliance with the Public Company Accounting Oversight Board’s (PCAOB) standards.

The accounting firm has been suspended from further practice and heavily fined. And while the firm had over 350 clients, Trump Media was by far their largest account. Which doesn’t look great for a man already facing scrutiny for alleged criminal activity.

The SEC charge has folks putting two and two together. As CNN explains, “Even though Trump Media has achieved a valuation north of $9 billion on Wall Street, the company generates little revenue and Truth Social remains a relatively tiny player in the social media world.”

Consider our eyebrows raised.

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