Trump Media Switches Auditors After Fraud Charges Against Previous Firm

The company adopts new auditors following SEC's fraud allegations against BF Borgers, highlighting regulatory scrutiny and market impact.

Trump Media & Technology Group replaced its auditor BF Borgers with Semple, Marchal & Cooper after the SEC levied fraud charges against Borgers.
BF Borgers and its owner faced penalties and bans from SEC filings, agreeing to a $14 million settlement over fraudulent practices.
The SEC's investigation revealed that Borgers falsified documentation and audit records, compromising over 1,500 filings.
Trump Media's stock has experienced volatility since its public listing in March, amid concerns of market manipulation.
The change in auditors was approved by Trump Media's audit committee, signaling compliance and governance adjustments.