According to a report from the Financial Times, the outside auditor hired by Trump Media & Technology Group to create a report used by investors for guidance has a history of using multiple names when signing off on documentation, which is raising some eyebrows.
The report notes that BF Borgers accounting firm principal, Ben F. Borgers, has filed forms using 10 different names including, Ben F Brogers, Blake F Borgers and Ben F Vonesh, among others that may just be simple misspellings.
However that, including a history of ongoing disputes about his company's failings, is raising questions about the embattled Truth Social which has seen its stock plummet.
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According to the Financial Times, "BF Borgers is consistent in its own way, with the regulator having used its most recent report to flag the firm’s 'continued high level of instances of non-compliance with PCAOB standards or rules and quality control defects noted in both the 2021 and 2019 inspections.'"
The report notes that the U.S. Public Company Accounting Oversight Board has previously found Borgers' firm "failed to properly check clients’ revenues, accounts receivable, debt levels, fair value assumptions and numerous other key financial metrics."
One accounting expert claimed the name differences combined with the firm's other problems raises red flags.
"If multiple names are due to careless mistakes and lack of attention, then how can we trust him concerning his attention to the audits that he has to supervise?” remarked Agnes Cheng, professor of accounting at the University of Oklahoma.
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