Former President Donald Trump‘s accounting firm, Mazars, has cut ties with his company. It also informed the Trump Organization that it should no longer rely on almost ten years’ worth of financial statements.
Mazars wrote in a letter to the Trump Organization chief legal officer last week, informing them to no longer rely on financial statements from June 2011 to June 2020, reported CNN. The firm wrote that they arrived at the conclusion based, in part, “upon the filings made by the New York Attorney General on Jan. 18, 2022, our own investigation, and information received from internal and external sources.”
The firm also said that they have not concluded that the various financial statements, as a whole, contain “material discrepancies.” But based upon the totality of the circumstances, they believe “our advice to you to no longer rely upon those financial statements is appropriate.”
Mazars’ letter was made public in a court filing Monday, according to the Associated Press. It came weeks after New York Attorney General Letitia James said that her civil probe uncovered evidence that Trump and his organization used “fraudulent or misleading” valuations of its skyscrapers, golf clubs, and other properties to get tax and loans benefits.
Mazars also said it would no longer be Trump’s accountant, citing a “non-waivable conflict of interest.” The firm said that the only work not done was the filing of Trump and his wife Melania Trump’s tax returns.
The former President’s main accountant, Donald Bender, reportedly testified before the grand jury investigating the Trump Organization in 2021.
A Trump Organization spokesperson said Monday that they are disappointed that Mazars has chosen to quit. But the spokesperson added that the firm’s Feb. 9, 2022 letter confirms that “after conducting a subsequent review of all prior statements of financial condition, Mazars’ work was performed in accordance with all applicable accounting standards and principles.”
The spokesperson also said that such statements of “financial condition do not contain any material discrepancies.” According to the spokesperson, this confirmation “effectively renders the investigations by the DA and AG moot.”