SAN FRANCISCO (AP) — The Securities and Exchange Commission on Friday charged an auditing firm hired by Trump Media and Technology Group just 37 days ago with “massive fraud” — though not for any work it performed for former President Donald Trump’s media company.
The SEC charged the accounting firm BF Borgers and its owner, Benjamin F. Borgers, with “deliberate and systematic failures” in more than 1,500 audits. The charges include failing to abide by accounting rules, fabricating documentation to cover up its shortcomings, and falsely stating in audit reports that its work met audit standards.
To settle the SEC charges, BF Borgers agreed to pay a $12 million fine while its owner agreed to pay a fine of $2 million, according to the SEC. Benjamin Borgers did not immediately return a call seeking comment.
BF Borgers and Benjamin Borgers also agreed to permanent suspensions, effective immediately, that will prevent them handling SEC-related matters as accountants.
Trump Media named BF Borgers as its auditor on March 28, according to the company's most recent annual report filing. The company disclosed at the time that BF Borgers had also handled its audits before the company went public by merging with a cash-rich shell company called Digital World Acquisition Corp.
The company had previously cycled through at least two other auditors — one that resigned the account in July 2023 and another that was terminated by the board in March, just as it was re-hiring BF Borgers.
In a statement, Trump Media said it “looks forward to working with new auditing partners in accordance with today’s SEC order.”
The SEC found that BF Borgers' shortcuts included copying audit documentation from a previous year, changing relevant dates and then passing it off as current documentation. In addition to falsely documenting work that was never actually done, that fake documentation detailed planning meetings with clients that never occurred and “falsely represented” that both Benjamin Borgers and another reviewer had approved the audit work.
“Ben Borgers and his audit firm, BF Borgers, were responsible for one of the largest wholesale failures by gatekeepers in our financial markets,” said Gurbir Grewal, director of the SEC’s enforcement division. "Thanks to the painstaking work of the SEC staff, Borgers and his sham audit mill have been permanently shut down.”
FILE - Pedestrians walk past the Nasdaq building as the stock price of Trump Media & Technology Group Corp. is displayed on screens, March 26, 2024, in New York. An auditing firm hired by Trump Media and Technology Group just 37 days ago was busted by the Securities and Exchange Commission for “massive fraud” — though not for any work it performed for former President Donald Trump’s media company. (AP Photo/Frank Franklin II, File)
FILE - The seal of the U.S. Securities and Exchange Commission is seen at SEC headquarters, June 19, 2015, in Washington. An auditing firm hired by Trump Media and Technology Group just 37 days ago was busted by the Securities and Exchange Commission for “massive fraud” — though not for any work it performed for former President Donald Trump’s media company. (AP Photo/Andrew Harnik, File)
PHOENIX (AP) — Javier Báez broke out of a season-long slump with five RBIs, Tarik Skubal pitched six dominant innings and the Detroit Tigers pounded the Arizona Diamondbacks 13-0 on Friday night.
Coming off consecutive shutouts against Florida, the Tigers roughed up Rhyne Nelson (2-3) with three runs in the third inning and added six more in the fifth while chasing the Arizona right-hander. Detroit had 11 runs by the fifth inning and finished with a season-high 17 hits — seven for extra bases, but no homers.
“We’ve obviously been waiting and hoping for a night like that and it came together at a good time for us,” Tigers manager A.J. Hinch said. “We’ve done this before and this is a good version of us, but one good at-bat after another, it’s pretty awesome to see. It's contagious."
Hinch insisted he was going to keep sending Báez out despite the shortstop’s meager .167 batting average. Báez rewarded him with a 3-for-4 night that included a pair of two-run doubles and a run-scoring single.
He wasn’t alone in Detroit’s hit fest.
Kerry Carpenter had four RBIs and Colt Keith went 4 for 5 with two RBIs. Wenceel Pérez and Riley Greene also had run-scoring hits.
“We did a good job of just directing the ball wherever he pitched it,” Hinch said. “We didn’t try to hit the ball out of the ballpark.”
It was more than enough for Skubal (6-0), who dominated despite fighting early nerves with numerous friends and family in attendance.
The left-hander who played high school ball in Kingman, Arizona, took a perfect game into the fifth inning and allowed one hit with six strikeouts in a combined three-hitter.
Skubal didn't allow a baserunner until Randal Grichuk's one-out double off the wall in the fifth inning and left with the Tigers leading 13-0.
“I was probably a little amped up, a little nervous, but it's all good,” Skubal said.
Not for Arizona.
The reigning NL champions appeared to be headed in the right direction, winning seven of their previous 10 games.
The Diamondbacks fell into a huge hole after Nelson's worst outing of the season and couldn't muster much of anything against Skubal, getting two of their three hits in the eighth inning.
Arizona’s lone bright spot: Ketel Marte singled in the ninth inning to extend his hitting streak to a career-high 16 games.
“The one good thing about today is that it's over,” Arizona manager Torey Lovullo said.
Nelson was solid in his last outing, but it didn't carry over against the Tigers. The right-hander allowed eight runs on 11 hits in four innings in his worst outing of the season.
“I think he just misfired some pitches in the middle of the zone,” Lovullo said. “I think that's the common denominator: When he's good, he's hitting lines, when he's not he's missing in the zone — and he paid for that tonight.”
TRAINER'S TABLE
Tigers: RHP Kenta Maeda (illness) will begin his rehab assignment for Triple-A Toledo on Sunday. ... RHP Shelby Miller (ulnar nerve irritation) underwent a hydrodissection procedure earlier this week and played light catch as part of his rehab.
Diamondbacks: OF Alek Thomas has resumed baseball activities and feels no soreness in his left hamstring. ... SS Geraldo Perdomo took live at-bats at Arizona's spring training facility as he works his way back from a torn meniscus.
UP NEXT
Arizona RHP Zac Gallen (5-2, 2.86 ERA) tries for his sixth win in the middle game of the series against Detroit RHP Jack Flaherty (0-3, 3.88).
AP MLB: https://apnews.com/MLB
Arizona Diamondbacks manager Torey Lovullo, right, takes the baseball from starting pitcher Ryne Nelson, left, during the fourth inning of the team's baseball game against the Detroit Tigers on Friday, May 17, 2024, in Phoenix. (AP Photo/Ross D. Franklin)
Arizona Diamondbacks starting pitcher Ryne Nelson throws to a Detroit Tigers batter during the first inning of a baseball game Friday, May 17, 2024, in Phoenix. (AP Photo/Ross D. Franklin)
Detroit Tigers third baseman Matt Vierling throws to first base for the out on Arizona Diamondbacks' Ketel Marte, while shortstop Javier Báez (28) watches during the first inning of a baseball game Friday, May 17, 2024, in Phoenix. (AP Photo/Ross D. Franklin)
Detroit Tigers' Kerry Carpenter (30) celebrates after his two-run triple as he stands between Tigers third base coach Joey Cora (56) and Arizona Diamondbacks third base Eugenio Suárez, right, during the third inning of a baseball game Friday, May 17, 2024, in Phoenix. (AP Photo/Ross D. Franklin)
Detroit Tigers' Colt Keith connects for a run-scoring single against the Arizona Diamondbacks during the third inning of a baseball game Friday, May 17, 2024, in Phoenix. (AP Photo/Ross D. Franklin)
Detroit Tigers starting pitcher Tarik Skubal throws to an Arizona Diamondbacks batter during the first inning of a baseball game Friday, May 17, 2024, in Phoenix. (AP Photo/Ross D. Franklin)
