Lawyers claim that Trump Accounting Firm is working with Letitia James

Trump looks sad in a photo

The longtime accounting firm of the former Chairman Donald Trump and his family business recently parted ways with him, the New York Attorney General’s Office noted in a court filing Monday.

Legal experts say the news likely doesn’t bode well for the Trumps.

The breakup between the Trump empire and Mazars USA LLP was first revealed in a letter from the accounting firm to the Trump Organization’s chief legal officer. Alan Garten on February 9, 2022.

“We are writing to advise against relying on Donald J. Trump’s Financial Statements for the years ending June 30, 2011 through June 30, 2020, and that you notify any any recipient of a financial statement is currently relying on one or more other documents that should not be relied upon,” letter from general counsel Mazars William Kelly begin.

Lawyers and legal professionals quickly moved in to interpret the ad.

“The Mazars effectively fired the Trump Organization, citing irrevocable conflict, and determined that Trump’s financial statements from 2011-20 should not be relied upon.” tweeted attorney and legal writer based in New York City Luppe B. Luppenwho is widely known as @nycsouthpaw on Twitter legit.

“Mazars’ determination that Trump’s financial reports over the course of a decade were unreliable, through no fault of their own, is tantamount to a claim that they were repeatedly misled by their clients, ” he added in another tweet.

Luppen also wrote a brief analysis of the document on his blog.

“The accounting firm also said it had concluded that its new position casts doubt on the financial statements that created a conflict of interest between it and the Trump Organization that could not be waived, and therefore It cannot do new work on behalf of Trump,” the post notes. “Emphasizing the gravity of that decision, the Mazars informed Garten that they would not be able to complete some of the tax returns on behalf of the former president and his wife that are due tomorrow.”

The Mazars’ growth, despite being nearly a week old, was highlighted in Monday’s court filing by the New York Attorney General. Letitia James (D) as part of a move to force the Trump Organization, Donald Trump Jr., Ivanka Trump and others to comply with subpoenas for testimony and documents. James has investigated the Trump Organization for years over claims that the patriarch and the family’s eponymous entity inflated certain properties for valuation purposes and then devalued them for tax purposes.

A lawsuit is filed in the summer of 2020 and James’s group was taken down Eric Trump October last year.

“For more than two years, the Trump Organization has used delay and litigation tactics to try to thwart a legitimate investigation into its financial dealings,” James said in a statement. a press release disclosure disclosure. “To date in our investigation, we have discovered substantial evidence that Donald J. Trump and the Trump Organization have mispricing and fraudulently valuing many properties and misrepresenting those values ​​to the public. financial institutions for economic benefit. The Trumps must comply with our legal subpoenas for documents and testimony because no one in this country can pick and choose if and how the law applies to them. We will not be discouraged in our efforts to continue this investigation and ensure that no one is above the law. ”

Other lawyers concurred to suggest that the Empire State attorney general had acquired an important new ally in the accounting firm.

In the petition, James alleges that Trump and his business perjured several “objective facts” in documents provided to the Mazars, including “the size of Mr. Trump’s Trump Tower penthouse;” “The process by which Mr. Trump or his associates obtained valuation, including deviations from generally accepted accounting principles in a manner that the statements do not disclose;” and “the intentional involvement of ‘external experts’ in achieving valuations.”

[image via Saul Loeb/ AFP/Getty Images]

Is there a trick we should know? Lawyers claim that Trump Accounting Firm is working with Letitia James

James Brien

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