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New Auditors for Trump Media

DJT was not the first, it was one of hundreds of US listed companies that used the firm of auditors BF Borgers.  This afternoon, the firm agreed to pay $14 million in fines and to permanently suspend its operations.   The SEC determined this firm to be an IPO mill, that provided fake auditing services to small companies (3%0) that were seeking to list on the various US exchanges.

Several of its partners had already been barred from working in the industry, the investigation into BF Borger goes back years, and has nothing to do with Trump Media...although Trump media is by far the largest client of Borgers.

Two things, first BF Borgersprovided an limited opinion to Trump Media, that it was at risk as a "going concern"   in other words an auditor known to more than cut corners was found to be one of the worse auditing companies in the US, did not like the numbers for DJT.

If I were an investor in DJT I would run for the hills, because now everything they did will have to be redone by a recognized firm.   

Note:  I really really don't care.  However, the grifter using grifter has a certain poetic feel.   




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