Former President Donald Trump’s longtime accounting firm severed ties with him and the Trump Organization, which is under investigation in New York.
The firm, Mazars, advised Trump‘s business of the move last week in a statement that also said they should no longer rely on financial statements from June 2011 through June 2020. Mazars said it came to the conclusion to avoid the statements “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,” according to a letter reported by CNN.
“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 told the Trump Organization’s chief legal officer.
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A Trump Organization spokesperson said the company is disappointed in Mazars’s decision and insisted that the firm’s letter confirms that its work “was performed in accordance with all applicable accounting standards and principles.” The spokesperson further said the organization’s statements “do not contain any material discrepancies,” and the firm’s review “effectively renders the investigations by the DA and AG moot.”
New York Attorney General Letitia James is conducting a civil investigation into the former president and the Trump Organization in tandem with an inquiry by Manhattan District Attorney Alvin Bragg.
James, a Democrat, said evidence shows Trump and his organization “used fraudulent and misleading financial statements to obtain economic benefit,” according to a statement reported by the New York Times. She added that there should be “no doubt” her investigation is lawful, and there is “legitimate reason” to seek testimony from Trump and two of his children, Donald Trump Jr. and Ivanka Trump.
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James subpoenaed Trump and two of his children Dec. 30 for testimony in connection with a civil investigation into the family’s business practices. Prior to the subpoena, Trump filed a lawsuit Dec. 20 to stop James from investigating his business empire, claiming that he was the victim of “viewpoint discrimination” and arguing that his rights had been violated. James moved to dismiss the lawsuit Jan. 26.
Rep. Carolyn Maloney, chairwoman of the Committee on Oversight and Reform, also released a statement Monday on the Mazars letter, describing it as further confirmation that his “shady financial dealings simply cannot be trusted” and adding that the firm’s firing of Trump “underscores the urgency of the Oversight Committee’s ongoing investigations into Trump’s conflicts of interest, his D.C. hotel lease, and the emoluments he received while in office.”
The Trump Organization has not yet responded to the Washington Examiner’s request for comment.
