Former Republican President Donald Trump’s accounting firm has quit its longtime clientele, and financial statements he provided for nearly a decade were unreliable, court documents revealed Monday.
Also read: Convoys of anti-health sanctions worldwide
Also read: Canada inspires the right around the world
The Majors Group wrote a letter to the Trump organization last week saying it would no longer work for the company, which is under investigation for tax evasion.
The letter was submitted to the court by State Attorney Letitia James, who asked the judge to comply with Donald Trump’s invitations to testify as part of the trial.
Ms James announced last month that her team had uncovered evidence of fraud, including a fraudulent property valuation.
According to Mazars, Trump’s accounting for the year ending June 30, 2011 to June 30, 2020 is “no longer considered credible,” according to prosecutor investigations.
The company said its own research and “information received from internal and external sources” also weighed in on its choice.
“While the various balance sheets, when taken together, we do not confirm that there are any material irregularities, we trust that our advice is guaranteed not to rely on these financial records any longer, depending on the circumstances,” the letter said.
Partly as a result of this decision, Mazars reads that it can “no longer supply new product to the Trump organization”.
These financial reports are central to the investigation of Mrs. James and another criminal led by the Manhattan Prosecutor.
The Trump organization is suspected of overestimating the value of specific assets when applying for loans from banks and underestimating the same assets to the taxman to pay less tax.
Last July, the Trump organization and its trusted accountant, Allen Weiselberg, pleaded not guilty to 15 counts of fraud and tax evasion in a New York court.
The Manhattan District Attorney’s Office received multi-year tax returns from the Mazars in January after a legal battle that went all the way to the Supreme Court.
For Donald Trump, both investigations were motivated by political motives.
But these legal issues complicate the second race for the White House.
The 75-year-old billionaire is skeptical about whether to run again for the Republican nomination.