Skip to main content

Featured

Russian Air Defense Fire Suspected in Azerbaijan Airlines Crash

  Aviation experts have raised concerns that Russia's air defense fire may have caused the recent crash of an Azerbaijan Airlines plane, as the nation mourns the loss of 38 lives. The Embraer 190 aircraft, en route from Baku to Grozny, was diverted to Aktau, Kazakhstan, due to unspecified reasons. Tragically, it crashed while attempting to land, killing 38 of the 67 people on board and injuring all 29 survivors.  Cellphone footage shows the plane making a steep descent before crashing into the ground and exploding. Experts point to holes in the plane's tail section as evidence that it may have been hit by a Russian air defense missile, possibly while Russia was defending against a Ukrainian drone attack. Azerbaijan observed a nationwide day of mourning, with flags lowered to half-mast and a moment of silence observed across the country. Azerbaijani President Ilham Aliyev stated that the weather forced the plane to change its course, but investigations are ongoing. The Kremlin ...
Post a Comment
Read more
Labels

DJT Stock Plummets as SEC Accuses Trump Media Auditor of ‘Massive Fraud’


In a stunning turn of events, the Securities and Exchange Commission (SEC) has charged the accounting firm responsible for auditing Trump Media & Technology Group with “massive fraud.” The firm, BF Borgers, allegedly engaged in “deliberate and systemic failures” to comply with U.S. audit standards while working on audits and reviews for public companies. Here are the key details:

  1. The Allegations:

    • BF Borgers, based in Lakewood, Colorado, reportedly skirted accounting standards for over two years during its work on public company audits and reviews.
    • More than 350 clients relied on BF Borgers during this period, but the firm failed to follow standards set by the top U.S. audit watchdog in at least 75% of those filings.
    • The SEC alleges that BF Borgers misled its clients by falsely claiming compliance with the Public Company Accounting Oversight Board’s standards and even falsified documents to create this appearance.

  2. The Consequences:

    • BF Borgers and its owner, Benjamin Borgers, have agreed to pay a combined $14 million to settle the SEC charges.
    • Both the firm and Benjamin Borgers have been permanently suspended from practicing before the SEC as accountants.
    • SEC Enforcement Director Gurbir Grewal emphasized that this case represents one of the largest wholesale failures by gatekeepers in our financial markets and undermines trust in our markets.

  3. Trump Media’s Response:

    • Trump Media, whose stock is traded on NASDAQ under the symbol DJT, expressed its intention to work with new auditing partners following the SEC order.
    • BF Borgers had been Trump Media’s auditor since 2022, according to company filings.

  4. Market Impact:

    • The news of the SEC charges caused DJT stock to tumble, reflecting investor concerns about the integrity of the auditing process and the potential impact on Trump Media’s financials.
    • Investors and markets alike are closely watching how this situation unfolds, given the significance of Trump Media in the media and technology landscape.

In summary, the SEC’s allegations against BF Borgers highlight the critical role auditors play in maintaining market trust and transparency. The fallout from this case serves as a stark reminder of the importance of rigorous auditing practices and the consequences when those practices are compromised. Stay tuned for further developments as this story continues to unfold.


Labels:

Comments

Post a Comment