Unreliable statements? Is that a nice way of saying the Trump Organization lied? I hope this leads to criminal, not just civil, proceedings. I wish someone would hold Trump accountable. It doesn’t look like DOJ will.
Trump’s longtime accountant says a decade’s worth of his financial statements “should no longer be relied upon” and suggested that any recipient of the documents be alerted, according to a copy of the letter filed in New York court filings. https://t.co/npkO3Xx5S6
— The Washington Post (@washingtonpost) February 14, 2022
Mazars, the accounting firm that signed off on the Trump Org’s filings *for years*, cut ties to the company and says it can no longer stand behind the financial statements. https://t.co/4FXEwFj9GA
— Tim O'Brien (@TimOBrien) February 14, 2022
News – Mazars has effectively fired the Trump Organization, citing a non-waivable conflict, and determined that Trump's financial statements from 2011-20 should not be relied on, per a letter to Alan Garten filed in court today. pic.twitter.com/UmC1nVe4ZP
— southpaw (@nycsouthpaw) February 14, 2022
This is brutal. Trump's counsel hired an appraiser for his Silver Springs property. The appraiser told them it was worth $29M-$50M. Trump then turned around and told his tax accountants at Mazars that it was worth $161M. pic.twitter.com/CsFnOQNIsw
— Scott Stedman (@ScottMStedman) January 19, 2022
The Trump Organization's longtime accounting firm Mazars said it no longer wants Trump's business, as it doesn't trust the financial documents the Trump Org has given them. https://t.co/2DJrMmR7bY
— The Daily Beast (@thedailybeast) February 14, 2022
Mazars says as a result of their decision regarding the financial statements they will no longer be doing work for the Trump Organization.
— Tom Winter (@Tom_Winter) February 14, 2022
Bigger problem for Trump:
— Tristan Snell (@TristanSnell) February 14, 2022
The loan agreements relying on the fraudulent financial reports likely have "representations and warranties" — including one in which Trump was vouching for the accuracy of all info he provided.
So Trump may now be in breach of the lending agreements.
AG James cites Mazars's declaration that it can no longer stand behind its financial statements to the Trump Organization in pushing judge to order depositions of Trump and others.
— Harry Litman (@harrylitman) February 15, 2022
Former President Donald Trump's long-time accounting firm informed the Trump Organization last week that it should no longer rely on nearly 10 years' worth of financial statements and that they would no longer be their accountants, citing a conflict of interest pic.twitter.com/VivhdzV34K
— CNN (@CNN) February 15, 2022
Sad! 