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Capitol Hill Politics

Trump’s tax firm says financial statements unreliable

Trump’s tax firm says financial statements unreliable, Transatlantic Today

NEW YORK (Washington Insider Magazine) – Last week, the Trump Organization was warned by former President Donald Trump’s long-time accounting company that it should no longer depend on nearly ten years’ worth of financial records and that they will no longer be their accountants, alleging a conflict of interest.

The business also recommended the Trump Organization not to depend on the representations and to tell any beneficiaries of the statements, such as lenders or insurance.

Mazars announced on Monday that it will no longer be Trump’s accountant due to a “non-waivable conflict of interest.” The only thing left undone, according to the accounting company, was the submission of Trump and Melania Trump’s tax records. It claims they are still looking for information on an apartment for Matthew Calamari Jr., the company’s security director, which they have been looking for months but have not received. Donald Bender, Trump’s top accountant, appeared before a grand jury probing the Trump Organization last year, according to CNN sources.

The letter was submitted in a court document by the New York attorney general’s office, which has been attempting to execute a subpoena for Trump’s papers and get his, Donald Trump Jr. ‘s, and Ivanka Trump’s testimony. A court date has been set for Thursday.

The New York attorney general’s office and the Manhattan district attorney’s office have been looking into Trump’s financial records to see if any insurers, lenders, or others were misleading. Trump has previously stated in depositions in civil inquiries that he would provide his judgment on the worth of specific properties, and that the final amount was “predominantly” chosen by Trump Organization chief financial officer Allen Weisselberg.

Mazars created the financial accounts and included a 2-page preamble stating that Trump was liable for assessments, but that they did not follow US accounting regulations in many areas.

The New York attorney general’s office claimed last month that it had discovered “significant evidence” alleging that the Trump Organization was using fraudulent or misleading equity valuations to acquire a host of economic advantages, such as loans, tax deductions and insurance coverage in a lengthy court filing. They claimed there were multiple “misleading statements and omissions” in the financial statements.

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