Trump Media & Technology Group (TMTG), owner of the social network Truth Social, has announced a state of 'serious deficiency' in internal financial reporting controls, according to documents submitted to the U.S. Securities and Exchange Commission (SEC). This raises concerns about TMTG's financial transparency and governance structure.
The auditing firm BF Borgers, a partner of TMTG, has been accused by the SEC of 'serious fraud' for falsifying audit documents and failing to comply with standards. Donald Trump Jr., director of TMTG, received a salary of $813,000 last year despite attending only 2 out of 5 meetings.
TMTG's annual revenue only reached $3.6 million, but the company incurred a loss of $401 million. Previous reports indicated that TMTG had signed an ETF agreement with Crypto.com and Yorkville America Digital, planning to launch the fund in Hong Kong this year.
Source: https://tintucbitcoin.com/bao-cao-tai-chinh-cua-trump-media-lo-hong-nghiem-trong/
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