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Trump’s Accounting Firm Says It No Longer Stands Behind His Financial Statements – Mother Jones


Politics

Trump’s Accounting Firm Says It No Longer Stands Behind His Financial Statements – Mother Jones


New York Attorney General Letitia James speaks during a rally in support of home care workers in New York, Tuesday, Dec. 14, 2021. Seth Wenig, File/AP

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Former President Donald Trump’s longtime accountant has notified the Trump Organization that the statements of financial condition it prepared for Trump between 2011 and 2020 should no longer be relied upon as accurate. Last week, Mazars USA LLP, an accounting firm that has been used by Trump for years to create these financial statements and to prepare his taxes, sent a letter to the Trump Organization saying the firm could no longer work with Trump’s company, cannot finish preparing Trump’s taxes this year, and is no longer willing to stand by their assessments of Trump’s finances during those previous years. The letter, signed by Mazars’ general counsel, cited information dug up as part of New York Attorney General Letitia James’ civil investigation into Trump’s finances as one reason the firm no longer has confidence in the financial statements it prepared.

The news has big implications for Trump, particularly in the context of James’ investigation. Trump and James are currently enmeshed in a legal fight over James’ long-running investigation—she has asked a judge to force Trump and two of his adult children, Ivanka and Donald Trump Jr., to sit for depositions. Trump has asked a federal judge to stop James from continuing her investigation, saying it’s a politically motivated fishing expedition. 

James has said she is investigating whether Trump may have committed fraud by misleading banks, insurance companies, and tax authorities over the value of his properties—providing higher values when it was helpful for getting a loan, for example, and lower values when it came time to pay taxes that are based on property values. James is also working with the Manhattan district attorney’s office, which is conducting a criminal investigation into similar allegations. 

In speeches last month, Trump railed…



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