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What Do Trump And Charter Schools Have In Common?
Independent auditors are meant to be gatekeepers of financial systems. Sham audit mills used by charter schools leave taxpayers unprotected.
“For five years [NVMI doesn’t] even have audit findings”
– LACOE Board Member Yvonne Chan
With Trump’s Truth Social barely staying afloat in a sea of red ink, the former President needed to quickly take the company public if he wanted to have any chance at pulling cash out of the rapidly failing endeavor. After doing so, the social platform’s parent company, Trump Media, specified that its audits would be conducted by BF Borgers, a “small” firm that served mostly “small companies [that] traded over-the-counter.” This seemed an odd fit for Trump’s company which the market had valued at $11 billion on its first day of trading under the stock symbol DJT.
It is now clear why the ethically challenged former President chose BF Borgers; the auditing firm had no real intention of ensuring that investors could rely on Trump Media’s financial reports. From 2019 to 2021 the accounting firm had doubled the number of clients it served but had not hired…
