The auditing firm for Trump Media and the auditor’s owner were charged Friday with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.

The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, with admitting or denying the allegations, the SEC said.

The agency, calling BF Borgers a “sham audit mill,” said the company and its owner engaged in “deliberate and systemic failures to comply with Public Company Accounting Oversight Board … standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023,” according to a press release.

The respondents also were charged with falsely telling clients that the auditor’s work would comply with PCAOB standards, fabricating audit documents to make it seem that the work did comply with those standards, and “falsely stating in audit reports included in more than 500 public company SEC filings that the firm’s audits complied with PCAOB standards,” the release said.

The bombshell SEC action raised questions about the accuracy of the financial information in thousands of reports that were issued by the companies Borgers audited, including Trump Media, whose majority shareholder is former President Donald Trump.

These reports, filed regularly with the SEC, provide essential information that investors and analysts use to evaluate companies whose stock trades on public markets.

As of Friday morning, the investor relations page on Trump Media’s website still listed BF Borgers as the independent auditor of the company.

“Ben Borgers and his audit firm, BF Borgers, were responsible for one of the largest wholesale failures by gatekeepers in our financial markets,” SEC Enforcement Division Director Gurbir Grewal said in a statement.

“As a result of their fraudulent conduct, they not only put investors and markets at risk by causing public companies to incorporate noncompliant audits and reviews into more than 1,500 filings with the Commission, but also undermined trust and confidence in our markets,” Grewal said.

The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began Friday.

A spokeswoman for Trump Media did not immediately respond to comment on the SEC complaint.

The company, whose stock began public trading only in late March after a merger with a shell company, will have to find a new auditor as a result of the SEC action.

– Additional reporting by CNBC’s Brian Schwartz

By Showbiz Reporter- Zanu PF apologist and controversial businessman Wicknell Chivhayo says he has set aside US$850 000 to acquire 100 Toyota Aqua vehicles, which he said he will distribute to Zanu PF youths across the country’s 10 provinces.

Chivhayo said the cars will be distributed randomly to Zanu PF youths who campaigned hard for ZANU PF to secure victory in the 2023 harmonised elections.

The Zanu PF apologist, who has been dishing out cars to selected musicians and actors, said he will not stop, and wished that at least 10 local businesspeople emulated his “generosity”.

Commenting on a video clip by comedian King Kandoro (real name Mukudzei Kandoro Majoni), who appeared to mock him and ZANU PF for the extravagance, Chivayo said the ruling party deserves respect. He said:

As much as I sometimes find this boy funny, I certainly dislike his unjustified criticism of my beloved party ZANU PF, all in the name of humour and satire.

The revolutionary party ushered us the independence which we celebrate and enjoy to this very day and therefore equally deserves some measure of respect.

The sad news for him is I’m not stopping sorry to say! There are so many rich people out there who barely share their wealth with anyone.

Imagine if we had just 10 generous business tycoons like me in Zimbabwe, we would live in a better place.

Exceptional and committed philanthropists like myself should never be the subject of such petty humour for comic mileage!

It takes a lot of love and faith to be able to bless a whole lot of people that you don’t know, you’ve never even met and are not related to.

The wiser thing to do is shower more praises and keep encouraging them to soldier on to try to enable more people to benefit.

Chivayo then announced his plans to acquire a fleet of Toyota Aquas that he will distribute to ZANU PF youths. He said:

On that note, after watching this video I have decided to spare yet another 850 thousand dollars from my small savings to buy Toyota Aquas next week.

These vehicles will be randomly distributed equally across the country’s 10 Provinces, starting with Mashonaland East, kumusha kwangu to the deserving youths who were outstanding and worked tirelessly during the Election period.

I will first of all seek the requisite permission from the party leadership, then liaise with the Minister of each Province and Provincial chairmen to ensure that appropriate and deserving beneficiaries receive their recognition.

If I had enough money I would buy every ZANU PF member and Johanne Masowe follower a car but I’m only a big-hearted businessman who has so much love but is still struggling to make ends meet.

I appreciate the mostly good feedback and gratefulness, but to those few who still hate being patient, I have more in store for you.

Chivayo had another dig at King Kandoro, likening him to what he referred to as failed opposition political outfits.

He also dismissed suggestions that he aspires to a top position in ZANU PF. Chivayo has lately been described in some quarters as the “Vice President At Large” after he appeared alongside President Emmerson Mnangagwa at State events. Said Chivayo:

I am fully aware of how similar-minded comedians have masked their sarcasm and ridicule through humour, following the shallow footsteps of failed opposition political outfits.

I have consistently been the subject of political caricature by some cartoonists out of desperation for online relevance.

No amount of opposition-supported propaganda insinuating that “I am the VP at Large” or that “I hold political ambition” will change my loyalty to ZANU PF.

I will forever remain a card-carrying member of the Revolutionary Party and will always wholeheartedly vote for ZANU PF in every election as this is my constitutional right to do so!

In the meantime, I will never slow down on my opulent lifestyle so please allow me to be serenaded by the endless luxury of flying first class on a brief vacation to London.

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Job Description

The Medicines Control Authority of Zimbabwe (MCAZ) is inviting qualified, honest, self-motivated and experienced applicants for the above mentioned post.

Duties and Responsibilities

Reporting to the Head, Evaluations and Registration, the incumbent will be responsible for the following among other duties:

• Manage the registration of Human Allopathic Medicinal Products, Veterinary Medicines, Complementary Medicines, amendments and reinstatements.
• Preparation of Registration Unit Operational Plan for review and approval by Head Evaluations and Registration.
• Ensure new dossiers are correctly received, receipted, screened and relayed to the Evaluations Team;
• Ensure correct information (guidelines, fees, timelines, quotations) is given to applicants intending to submit dossiers.
• Liaise with the CRO-Evaluations so that dossiers that passed screening are handed over to the Evaluations Team with an agreed timeline for evaluation.
• Ensure tracking of active Evaluation Team assessment time and clock stops for applicant to respond;
• Ensure presentation of information for decision-making at EVR, Management and Senior Management meetings.
• Ensure timely communication of queries to applicants after completion of screen, 1st evaluation, 2nd evaluation, to applicants.
• Liaise with the inspectorate to confirm GMP status of manufacturers.
• Ensure satisfactory resolution of all QMS internal and external audit observations.
• Ensure up-to-date information for customers on the EVR homepage.
• Ensure up-to-date guidelines for EVR staff and clients.
• Ensure up-to-date forms, templates for EVR staff.
• Ensure issue of correct certificates.
• Enforce deadlines on time to respond, limit review cycles.

Qualifications and Experience

• Either Bachelor of Pharmacy Degree or Veterinary Science Degree or related field.
• Master’s degree in Pharmaceutical Regulatory Affairs will be an added advantage.
• Experience as Senior Regulatory Officer coupled with competency level 2/3 in evaluation of dossiers.
• Capacity to provide technical advisory role to Committees through recommendations.
• Ability to conduct critical analysis and think strategically.
• Ability to induct, train, mentor and supervise administration and technical officers.
• Good time management, able to work with minimal supervision, good interpersonal skills, team player, ability to see registration process.

Other

How to Apply

The MCAZ is an equal opportunity employer. Female candidates are encouraged to apply. Applicants should send their curriculum vitae, certified copies of qualifications, experience and expected salary and benefits to: