Donald Trump has been abandoned by his accountants

Donald Trump has been abandoned by his accountants

The accounting firm of former US President Donald Trump has decided to separate from its long-time client. The reason: The financial statements he gave her for nearly a decade were unreliable, according to court documents released on Monday, February 14.

Last week, Mazars told the Trump Organization in a letter that it would not work with the company, which is under investigation for possible tax evasion. The document was presented in court by New York State Attorney General Letitia James, who asked a judge to compel Donald Trump to testify in the investigation. MI James announced in January that his team had uncovered evidence of fraudulent asset valuations.

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According to Mazars, the attorney general’s findings led her to consider the Trump Organization’s account for the period from June 30, 2011 to June 30, 2020. “It shouldn’t be considered reliable anymore”. The company added that its own investigation and Information received from internal and external sources Weigh also in his choice.

“Although we have not concluded that the various balance sheets, taken together, contain any material irregularities, given the circumstances, we believe that our advice not to rely on these financial records any longer is justified.”, indicates the character. Partly because of this decision, Mazars ‘Can no longer provide a new product for the Trump Organization’We read again.

suspected tax evasion

These financial statements are in the center of mrs.I James and another criminal led by the Manhattan District Attorney. The Trump Organization is suspected of overestimating the value of some real estate when applying for loans from banks, and instead underestimating them with tax authorities in order to pay lower taxes.

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In July 2021, the Trump Organization and its loyal accountant Allen Weisselberg announced, Not guilty In New York court on fifteen counts of fraud and tax evasion.

The Manhattan Attorney General’s office received Mazars’ multi-year tax returns in January from Donald Trump after a legal battle Who went to the Supreme Court of the United States. For Donald Trump, both investigations are motivated by political goals.

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The Trump Organization expressed ” disappointment “ Following the Mazars Group’s decision, in a press release on Monday evening. But the letter from the accounting firm proves this, according to her Mazars’ business was carried out in accordance with all applicable accounting rules and principles. And that these financial statements “Does not contain significant anomalies”.

These legal problems could complicate a possible second race for the White House. The 75-year-old billionaire leaves doubts about his intention to run again, or not, for the Republican nomination.

The world with AFP

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