Accounting Firm Mazars Cut Ties With Trump Organization, Calls Years of Financial Reports Unreliable

Accounting firm Mazars cut ties with the Trump Organization and said that a decade of its financial reports should “no longer be relied upon.”

Mazars said in a letter on Feb. 9 to Trump Organization Chief Legal Officer Alan Garten that it was no longer standing by the company’s financial statements for the years ending June 30, 2011 to June 30, 2020.

The letter was revealed in a court filing on Feb. 14 by New York Attorney General Letitia James’ Office.

The financial documents are a crucial part of James’ civil investigation, as well as the criminal inquiry by the Manhattan District Attorney’s Office,  into the Trump Organization’s certain real estate assets, insurance policies, and tax-related issues.

Mazars told Garten that its conclusion was based on the filings by James’ Office, “our own investigation, and information received from internal and external sources.”

“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,” Mazars General Counsel William Kelly wrote in the letter.

Mazars noted that it performed its work “in accordance with professional standards.”

A Trump Organization spokesperson said that the they were “disappointed that Mazars has chosen to part ways.”

The spokesperson added that the letter from Mazars rendered investigations by James’ Office and the Manhattan District Attorney’s Office “moot.”

© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.