Trump Organization's accounting firm says 10 years of financial statements are unreliable
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Best believe they will do everything and anything to prevent that from happening.....and what we see here is a culmination of behind door talks and negotiations and sweat and tears.....
They didn't discover shit....they already knew it was there...and that is the essence of their culpability. The first step to protect yourself and minimize prison exposure when in a conspiracy, is to disavow the conspiracy....they are clearly already caught dead to rights.
I’ll read this AFTER the Durham report
Yeah. A better way for me to have put it is "Someone else must have discovered something that implicates the firm. Which, in turn, led to them 'discovering' the problem internally."
I don't know if he will be arrested and prosecuted. Yet when it comes to filing your taxes, etc... you sign your name on the dotted line certifying that you are responsible for the accuracy of the document you are submitting. So you are responsible for any errors on those documents regardless of who prepared them.
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Trump's accountants quit — in the midst of preparing his and Melania's taxes — after questioning 'discrepancies' (msn.com)
Trump's accountants quit — in the midst of preparing his and Melania's taxes — after questioning 'discrepancies'
In a letter made public Monday by New York's attorney general, Letitia James, the accounting firm, Mazars USA, told the Trump Organization's top corporate lawyer it had stepped away from Trump and his business because of questions about the reliability of key company financial statements.
News of Mazars USA's stunning move surfaced in papers filed Monday by James as part of New York prosecutors' inquiry into possible banking, insurance, and tax fraud on the part of Trump and his business.
Since at least 2004, Mazars has prepared annual financial statements — so-called Statements of Financial Condition — containing detailed estimates of Trump's net worth.
Trump has used these statements to secure hundreds of millions of dollars in loans and insurance over the years.
In court documents filed over the past two years, James has alleged that Trump exaggerated his worth when trying to impress bankers and downplayed his worth when seeking lower taxes.
"Last week, after review of [the AG office's] filings, Donald J. Trump's and the Trump Organization's former accounting firm informed the Trump Organization that the Statements of Financial Condition from 2011 through 2020 should no longer be relied upon," James wrote in papers filed Monday.
James filed the papers in Manhattan Supreme Court, as part of a civil lawsuit seeking to compel Trump, his daughter Ivanka, and his son Donald Jr., to comply with subpoenas from her office requiring their documents and testimony.
As part of her filing, James included a copy of the letter Mazars sent to Alan Garten, the chief legal officer of the Trump Organization.
In the letter, Mazars' top attorney, William J. Kelly, tells Garten that after speaking with the attorney general's office, and after their own investigation, they realized the accountant firm could no longer represent the former president or his business.
"The Statements of Financial Condition for Donald J. Trump for the years ending June 30, 2011 - June 30, 2020 should no longer be relied upon," the letter said.
"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," the letter continued.
"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate."
Mazars' lawyer went on to say that continuing to do accounting work for the Trump Organization would be "a non-waivable conflict of interest" — suggesting Mazars is weighing its own potential criminal liability.
"As a result, we are not able to provide any new work product to the Trump Organization," the letter continued, adding that the Trumps' tax returns were among the "limited number" that still remained to be filed.
Garten did not immediately respond to a request for comment; neither did attorneys for Trump and Mazars.
Trump's accountants quit — in the midst of preparing his and Melania's taxes — after questioning 'discrepancies'
- Accountants stopped preparing Donald and Melania Trump's taxes after questioning "discrepancies."
- Mazars USA told the Trump Organization it had halted its relationship with him, court papers say.
- The company is distancing itself from key evidence in a criminal probe into alleged financial fraud.
In a letter made public Monday by New York's attorney general, Letitia James, the accounting firm, Mazars USA, told the Trump Organization's top corporate lawyer it had stepped away from Trump and his business because of questions about the reliability of key company financial statements.
News of Mazars USA's stunning move surfaced in papers filed Monday by James as part of New York prosecutors' inquiry into possible banking, insurance, and tax fraud on the part of Trump and his business.
Since at least 2004, Mazars has prepared annual financial statements — so-called Statements of Financial Condition — containing detailed estimates of Trump's net worth.
Trump has used these statements to secure hundreds of millions of dollars in loans and insurance over the years.
In court documents filed over the past two years, James has alleged that Trump exaggerated his worth when trying to impress bankers and downplayed his worth when seeking lower taxes.
"Last week, after review of [the AG office's] filings, Donald J. Trump's and the Trump Organization's former accounting firm informed the Trump Organization that the Statements of Financial Condition from 2011 through 2020 should no longer be relied upon," James wrote in papers filed Monday.
James filed the papers in Manhattan Supreme Court, as part of a civil lawsuit seeking to compel Trump, his daughter Ivanka, and his son Donald Jr., to comply with subpoenas from her office requiring their documents and testimony.
As part of her filing, James included a copy of the letter Mazars sent to Alan Garten, the chief legal officer of the Trump Organization.
In the letter, Mazars' top attorney, William J. Kelly, tells Garten that after speaking with the attorney general's office, and after their own investigation, they realized the accountant firm could no longer represent the former president or his business.
"The Statements of Financial Condition for Donald J. Trump for the years ending June 30, 2011 - June 30, 2020 should no longer be relied upon," the letter said.
"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," the letter continued.
"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate."
Mazars' lawyer went on to say that continuing to do accounting work for the Trump Organization would be "a non-waivable conflict of interest" — suggesting Mazars is weighing its own potential criminal liability.
"As a result, we are not able to provide any new work product to the Trump Organization," the letter continued, adding that the Trumps' tax returns were among the "limited number" that still remained to be filed.
Garten did not immediately respond to a request for comment; neither did attorneys for Trump and Mazars.
That heat is turning into fire
Holy shit. This is better than TV.
No. I can't speak for the others, but I personally don't care. But, I'd encourage the two of you and the rest of the Bidenbots to visit this thread and contribute:
Black voters are fleeing Biden in droves. Here's why
Being anti trump doesn't make me pro Brandon. He's just the lesser of 2 memes
That’s not good
I’m 100% confident that there will be more posters that participated in this thread get arrested before and do more jail time than Trump.
keep holding out hope, though, while deflecting from the truth
keep holding out hope, though, while deflecting from the truth
It seems to me The Trump Organized Crime Syndicate is on it's last legs
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he always tells on himself, remember when he threatened them when he said ..they shouldnt investigate his financial dealings ? he literally threatened them live on tv !!
gotta find the clip !
Look, I hope your right... but a lot of us know that Trump has been laundering money for decades. In fact, Trumps entire existence is smoke and mirrors... and he's said as much himself (not directly but if you're listening it's there).
Attached is a video from an interview which you probably won't watch. If you do decide to watch what you'll learn is that Trumps first deal was shepherded through by a guy named John Koskinan. John Koskinan (at the time... some 40 years ago) ran the Victor Palmari Company which owned the hotel trump wanted to buy at the time (The Commodore Hotel by Madison Square). John Koskinan is a friend of Trumps... who just happened to be the IRS Commissioner up until very recently. The IRS Commissioner is an appointee position... the president picks him or her. If Trump goes down some major institutions could be heavily scrutinized (like the iRS and others), at the very least for looking the other way. The entire Trump fortune is build on top of political favors and public money (grants/money to build low income housing). Again, I hope i'm wrong but... his relationships are long-standing with people who run organizations that could have and should have said or done something before now. Tish James needs to sleep with one eye open fucking with these people
Start video at around 8 min mark and connect the dots.
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they already in here crying
eew, no!Earl Grey???
I like just basic tea, tetley or PGtipsEarl Grey???
Them posh ones too funky for me.
OK no more English tea jokeshello governor, You don’t say
(hovers finger over ban button)
With each passing day.... he ...and his family prove what complete and utter buffoons they are....
.
NYAG's argument why what Trump posted was a real problem :
This is astounding. It appears that his accounting firm was just doing some some simple math and then renting out their letterhead for his financial statements. They never tested, or validated any of his claims. That compilation report not withstanding, this is malpractice, because every time he presented those statements to a potential lender, insurer, tax agency, etc and didn't include that letter, they were committing fraud. What's the point of retaining an accounting firm year after year if not to test and validate the accuracy of the financial statements. Now we learn that the auditors damn near swore out a secret affidavit that they didn't really perform standard and customary audits and had no idea where the numbers came from. They just made sure everything added up correctly.
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