July 7, 2022

The Trump administration’s accounting firm says 10 years of financial statements are unreliable

“We have come to this conclusion based on the records filed by the New York Attorney General on January 18, 2022, our own investigation and information obtained from internal and external sources,” Majors wrote in a letter to Trump. The company’s chief legal officer advises them not to rely on financial statements from June 2011 to June 2020.

“Although we have not concluded that the various financial statements contain material contradictions based on the overall situation, we advise you not to trust those financial statements anymore.”

The company advised the Trump organization that those who receive reports such as lenders or insurers should not trust the reports.

On Monday, Majors said he would no longer act as Trump’s accountant, citing an “irreconcilable interest conflict.” The accounting firm says the filing of Trump and Melania Trump’s tax returns is not only complete. They are still searching for information about an apartment for Matthew Calamari Jr., the company’s head of security, which they have not been looking for for months. Donald Bender, Trump’s chief accountant, testified before a grand jury investigating Trump’s organization last year, sources told CNN.

The letter, the New York Attorney General’s Office has filed in court, seeks to enforce a sapona for documents from Trump and requires his testimony and the testimony of Donald Trump Jr. and Ivanka Trump. The court hearing is scheduled for Thursday.

“Although we are disappointed with Majors ‘departure, their February 9, 2022 letter, after reviewing all previous financial statements, confirms that Majors’ work was carried out in accordance with all applicable accounting standards and policies. Said. “This confirmation effectively provides inquiries through DA and AG Mood.”

Majors did not respond to CNN’s requests for comment.

Some lawyers say the signatures on the financial statements may have alerted the Mazars that the recent allegations are false and that they want to protect themselves and sound the alarm that they should no longer be trusted.

The New York Attorney General and the Manhattan District Attorney’s Office examine the accuracy of Trump’s financial statements to determine if any insurers, lenders, or others were misled. Trump has previously said he would comment on the value of certain assets in civil hearings, and the final decision-maker was “essentially” Alan Weiselberg, the Trump organization’s chief financial officer.

Majors compiled the report and included a two-page introduction claiming that Trump was responsible for the estimates, but in many ways they did not comply with US accounting rules.

A Long court case last monthNew York Attorney General’s Office Will be said The Trump administration has found “significant” evidence that it used fraudulent or misleading asset valuations to gain a number of economic benefits, including loans, insurance and tax deductions.

Citing Mazars ‘letter, attorneys for the New York Attorney General’s Office wrote Monday, “This development further strengthens what the OAG’s previous submissions have already shown: the court must order the defendants’ compliance with the OAG’s document and testimonial saponies.”

Attorneys working for New York Attorney General Letidia James have backed down from Trump’s argument that he is trying to “finish” the grand jury process by obtaining their testimony as part of an ongoing criminal investigation. The Trump team argued that James, who announced he was working with the Manhattan District Attorney’s Office on the criminal case, was politically motivated.

In filing Monday, James’s office said two attorneys had been appointed to work with the district attorney, but they said they were “according to the report and direction” of District Attorney Alvin Brock.

This story has been updated with more details.