Lekki Nightclub Staff Declare War on Silence, Face Legal Serenade

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Source: Peoples Gazette

The Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab, made a resolute declaration on Sunday, pledging to prosecute 11 employees of 10 Pots Night Club located at 2A Admiralty Way, Lekki.

These employees, comprising four males and seven females, stand accused of assaulting officials from the Lagos State Environmental Protection Agency (LASEPA).

The confrontation erupted when LASEPA officials had sealed the club premises due to noise pollution concerns.

In a subsequent statement by the ministry’s spokesperson, Kunle Adeshina, it was revealed that the arrested employees had removed the LASEPA seal, which was used to secure the premises between 11:11 am and 11:33 am on Saturday during enforcement activities.

By 12:44 pm, when LASEPA operatives returned to the club, they discovered it had reopened and resumed normal operations.

When attempts were made to reseal the premises, the employees vehemently resisted, resulting in physical harm to the state officials and prompting a call for additional security reinforcement.

As a stern response, the commissioner has decided to pursue legal action against both the employees and the property owner.

Their arraignment before the appropriate courts is scheduled for today, the 16th of October, 2023, with the aim of setting a deterrent precedent in such cases.

Source: PUNCH

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.

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