Posted on Feb 14, 2022
Trump Organization’s accounting firm says it can no longer vouch for financial statements from...
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That’s an… interesting statement from Mazars USA. That’s 10 years of financial statements wiped out in an instant, and Mazars will no longer do any work for the Trump Organization.
"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate," according to Kelly.
"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate," according to Kelly.
Trump Organization’s accounting firm says it can no longer vouch for financial statements from...
Posted from nbcnews.com
Donald Trump
Banking
Investigation
Posted 4 y ago
Responses: 4
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Fascinating...or is it that anyone associated with the former President gets themselves dragged in front of some Congressional investigation?
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SPC Steven Depuy
Personally don't care much for the man, but honestly, everyone filling out an employment application, or loan application, usually takes liberties on how they present things to make it look better for them. I suspect if you go over the Clinton Foundation records, maybe we can understand how Chelsea ended up worth 20M in 10 years time working for a charity as well, but that won't happen.
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SPC Erich Guenther
He admitted to manipulating conditions at a construction site in order to obtain construction loans and then bragged about it in his book ART OF THE DEAL. To me it read like a public admission of loan fraud right in NYC...........yet the DA did not move in or investigate. My guess is because he was a big Democratic Party contributor back then.
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We discussed this in another thread. This has nothing to do with political pressure. They are backing away due to the large swings in valuation of his real estate holdings which the NY DA highlighted and called into question. So the move by the company is perfectly appropriate given that item alone.....which they probably asked the Trump for an explanation on prior to making this decision to pull back. Initially an Accounting Firm would not spot this because they do yearly returns one at a time via tunnel vision and in most cases do not view them over history across several years.
This of course again raises the question why the Democrats ignored his claims of loan fraud and his celebration of how smart he was to commit it in the book "Art of the Deal". That was back when he was a Democrat and contributed to the Democratic Party back when Ed Koch was Mayor. Nobody looked at his operations more carefully back then after the public admission in his book he manipulated banks to give him construction loans? Just amazing. I don't expect the Media will cover that part of history either.
This of course again raises the question why the Democrats ignored his claims of loan fraud and his celebration of how smart he was to commit it in the book "Art of the Deal". That was back when he was a Democrat and contributed to the Democratic Party back when Ed Koch was Mayor. Nobody looked at his operations more carefully back then after the public admission in his book he manipulated banks to give him construction loans? Just amazing. I don't expect the Media will cover that part of history either.
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LTC David Brown
I am sure there have been changes in the evaluation of Trump holdings. We went through wide swings in real estate ver the last twenty years.
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