Thursday, June 30

Trump Organisation accounts unreliable: Auditors Mazars USA

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Donald Trump

In a major blow to former U.S. President Donald Trump, the accounting firm Mazars USA said it could no longer stand behind a decade of statements, a court filing showed on Monday.

The company has thus dumped the Trump company as a client.

Mazars USA, in a Feb. 9 letter made public on Monday, told the Trump Organization, the former president’s New York-based real estate business, that its financial statements for 2011 through 2020 should no longer be relied on.

Mazars said it had based its conclusion on a January filing by the New York Attorney General, its own investigation and information from internal and external sources.

The letter, which was filed in New York state court, also said Mazars would no longer work for the Trump Organization.

New York state’s attorney general has accused the Trump Organization of repeatedly misrepresenting the value of its assets to obtain financial benefits.

New York Attorney General Letitia James’ investigation, which is civil, also partially overlaps a criminal probe by the Manhattan District Attorney, which James joined in May, into the Trump Organization’s practices.

The Trump Organization did not immediately respond to a request for comment.

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