Former President Donald Trump’s accounting firm declared a decade’s worth of his financial statements is no longer reliable.
According to CBS News, the firm is cutting ties with the Trump Organization and says the financial statements “should no longer be relied upon.”
Mazars USA informed the organization’s chief legal officer, Alan Garten, of the decision in a letter. The New York attorney general’s office included it as an exhibit in a filing, as the outlet reported.
CBS News noted an executive from the firm cites discoveries from the investigation as one of the reasons behind its decision to recant the statements as well as dropping the company.
Mazars general counsel William Kelly wrote, “This conclusion (is) 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.”
A Trump Organization spokesperson commented on the matter in an email.
“While we are disappointed that Mazars has chosen to part ways, their February 9, 2022 letter confirms that after conducting a subsequent review of all prior statements of financial condition, Mazars’ work was performed in accordance with all applicable accounting standards and principles and that such statements of financial condition do not contain any material discrepancies,” the spokesperson said.
The statement continued, “This confirmation effectively renders the investigations by the DA and AG moot.”
The announcement comes a little more than a month after New York Attorney General Letitia James (D) said the investigation into the organization suggests the former president’s company “used fraudulent and misleading asset valuations,” as IJR previously reported.
She said in a statement, “We are taking legal action to force Donald Trump, Donald Trump, Jr., and Ivanka Trump to comply with our investigation into the Trump Organization’s financial dealings. No one in this country can pick and choose if and how the law applies to them.”
