Forbes: Trump Media & Technology Group Discloses Financial Report Suspected of Major Internal Control Deficiencies

According to Forbes, Trump Media & Technology Group (TMTG) disclosed in its latest filing with the U.S. Securities and Exchange Commission (SEC) that the company has "material weaknesses" in its internal controls over financial reporting, raising concerns among investors about the company's financial transparency and governance structure. TMTG is the parent company of the social platform Truth Social and has recently come under scrutiny due to financial losses and audit issues. It is reported that the auditing firm BF Borgers, hired by the company, has been accused by the SEC of "major fraud" for falsifying audit documents and violating auditing standards. Additionally, Donald Trump Jr., who serves as a director of TMTG, received a salary of $813,000 last year, despite attending only two of the company's five meetings. Meanwhile, TMTG reported annual sales of only $3.6 million but a net loss of $401 million.