Politics Journalists Protest Over The Disappearance Of Vanguard Reporter | GOVERNMEND GovernMend Nigeria October 26, 2021 0 Nigerian Union of Journalists (NUJ) embark on a peaceful protest over the disappearance of Mr. Tordue Salem of Vanguard Newspaper, 13 days ago. Details later… Source: Governmend Share this:Click to share on Facebook (Opens in new window)Click to share on X (Opens in new window) Related Continue Reading Previous GOVERNMEND SYMPOSIUM: ONE STAGE, FIVE DISTINCT INSTITUTIONSNext CHALLENGES OF THE JUDICIARY IN CONTEMPORARY NIGERIA | Ebun Adegboruwa, SAN More Stories News Politics The Federal High Court sitting in Ikoyi, Lagos State issued a final forfeiture order for a parcel of land GovernMend Nigeria May 14, 2024 0 News Politics Court Restrains Police From Arresting APC Executives Who Suspended National Chairman, Ganduje GovernMend Nigeria May 4, 2024 0 Politics BF Borgers, an accounting firm owned by former US President Donald Trump, has been accused by the Securities and Exchange Commission (SEC) of engaging in widespread fraud and operating a “sham audit mill.” The SEC alleges that BF Borgers committed “deliberate and systemic failures,” including the fabrication of audit papers and false assurances to clients regarding compliance with accounting standards.This fraudulent activity, described as “massive,” occurred between January 2021 and June 2023, impacting over 1,500 SEC filings and more than 500 public companies. As a consequence, the SEC has permanently barred BF Borgers from practicing as accountants before the agency and imposed a severe penalty, including a collective fine of $14 million against the firm and its owner, Benjamin Borgers.In a statement, Gurbir Grewal, director of the SEC’s enforcement division, declared that Borgers and his “sham audit mill” have been permanently shut down. The SEC has notified public companies that engaged BF Borgers to seek new accounting firms.Trump Media & Technology Group, chaired and majority-owned by Donald Trump, was among BF Borgers’ clients. While Trump Media may be the most high-profile client, BF Borgers served around 350 clients subject to SEC rules during the mentioned period. However, the SEC review only examined BF Borgers’ work for public companies, excluding its services to Trump Media when it was private.Trump Media, despite its significant valuation on Wall Street exceeding $9 billion, generates limited revenue. Its social media platform, Truth Social, faces challenges, with a notable decline in average daily active US users on iOS and Android in April. Despite this, Donald Trump remains a prominent user on Truth Social.In response to the SEC’s actions, a spokesperson for Trump Media expressed readiness to collaborate with new auditing partners in compliance with the SEC’s order. BF Borgers did not provide a comment on the allegations.In summary, BF Borgers, owned by Donald Trump, faces severe consequences following accusations of fraud by the SEC. The firm’s practices, characterized as a “sham audit mill,” have led to permanent suspension and hefty fines. Trump Media, among BF Borgers’ clients, is navigating challenges despite its substantial valuation, particularly with its Truth Social platform experiencing a decline in user engagement. GovernMend Nigeria May 4, 2024 0 Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ