Trump Media fires accounting firm after allegations it is a ‘fraudulent accounting manufacturer’

Supervisors had predicted and demanded that BF Borgers would be let go. The accounting firm did not respond to a request for an explanation.

In a statement Friday, Trump Media said it had “fired” BF Borgers as their independent registered public accounting firm. On this day, the SEC also accused BF Borgers and its owner of widespread fraud, calling the company a “fake audit factory.”

Trump Media announced on Saturday the hiring of Semple, Marchal & Cooper to replace BF Borgers.

In the filing, Trump Media stated that BF Borgers’ audit reports on the company’s financial records for 2022 and 2023 contained no adverse opinion and that there were no conflicting views on accounting matters.

The firing of BF Borgers was not optional for Trump Media or any of the other companies that had used the company. The SEC warned on Friday that these companies will have to look for new accounting firms.

BF Borgers was Trump Media’s independent registered accounting firm before the company went public in March. Trump Media then engaged BF Borgers as an accounting firm for the listed company in March.

The SEC did not allege that Trump Media had done anything wrong and did not name the company in its complaint. The audit focused solely on public companies, meaning BF Borgers’ work for Trump Media when it was a private company was not taken into account.

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Source: edition.cnn.com