Accounting Firm Whose Clients Included Trump Media to Shut Down After SEC Charges

The firm agreed to pay $12 million to settle the charges while the owner agreed to pay $2 million.

The U.S. Securities and Exchange Commission in Washington on Sept. 18, 2008. Chip Somodevilla/Getty Images

An auditing firm that represents hundreds of clients including Trump Media, which owns former President Donald Trump’s “Truth Social” app, reached a $12 million settlement with the SEC to settle charges alleging it failed to comply with accounting oversight standards affecting over 1,500 of its SEC filings.

The firm BF Borgers CPA PC and owner Benjamin F. Borgers were charged by the agency with “deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023.”