Trump Organization’s accountants cut ties, calling years of filings unreliable | Donald Trump

Donald Trump’s longtime accountancy firm cut ties with his business last week, saying that nearly a decade’s worth of Trump’s filings should “no longer be relied upon”.

The move comes amid ongoing criminal and civil investigations into whether Trump illegally inflated the value of his assets.

In a letter to the Trump Organization dated 9 February, William Kelly, US general counsel of the accountancy firm Mazars, said Trump’s financial statements for the period 30 June 2011 to 30 June 2020 “should no longer be replied upon and you should inform any recipients thereof who are currently relying upon one or more of those documents that those documents should not be relied upon”.

Mazars added it would no longer “provide any new work product to the Trump Organization”.

The statement was disclosed in the new court documents filed on Monday by the New York attorney general, Letitia James, who, along with the Manhattan district attorney’s office, has been investigating whether Trump used false financial statements to defraud lenders.

James cited the letter as her office asked a state judge to order the Trump Organization, Donald Trump Jr, Ivanka Trump and others to comply with subpoenas seeking documents and testimony.

“While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based on the totality of the circumstances, we believe our advice to no longer rely upon those financial statements is appropriate,” Mazars said in its letter to Alan Garten, the Trump Organization’s top lawyer.

More details soon …

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