The Mazars Cabinet claims to have doubts about financial statements produced by the Trump Organization. The company of the former US President is investigated for tax evasion.
Le Monde with AFP
The accounting firm of the former US President Donald Trump has decided to separate from his long-standing client. Reason: the financial statements he has provided over almost a decade were unreliable, according to judicial documents unveiled on Monday, February 14th.
Last week, the Mazars group informed Trump Organization in a letter that it would work more for the company, which is the subject of an investigation for a possible tax evasion. The document was presented to the Tribunal by the Attorney General of the State of New York, Letitia James, who asked a judge to obligate Donald Trump to testify in the context of the investigation. In January, in January, announced that his team had discovered evidence of fraudulent asset evaluation.
According to Mazars, the discoveries of the Prosecution led him to consider that the accounting of the Trump Organization over a period from June 30, 2011 to June 30, 2020 “should no longer be trusted”. The firm added that its own investigation and “information received from internal and external sources” also weighed in its choice.
“Although we have not concluded that the various balance sheets, as a whole, contained significant irregularities, given the circumstances, we believe that our Council to no longer rely on these financial documents is justified,” says the letter. Partly because of this decision, Mazars “is no longer able to provide a new product to the Trump Organization”, read again.
Suspicions of tax evasion
These financial statements are at the center of the investigation of M me James, and another, criminal, led by the prosecutor of Manhattan. The Trump Organization is suspected of having overestimated the value of certain properties when requested loans to banks and to have them underestructively with the taxes in order to pay less taxes.
In July 2021, the Trump Organization and its faithful accountant, Allen Weisselberg, pleaded not guilty in a New York court of fifteen counts of fraud and tax evasion.
The Manhattan Prosecutor’s Office received from Mazars in January, Donald Trump tax returns for several years after a legal battle that went to the Supreme Court of the United States. For Donald Trump, the two surveys are motivated by political objectives.
The Trump Organization expressed its “disappointment” after the decision of the Mazars group, in a statement on Monday night. But the letter of the accounting firm proves, according to her, that “the work of Mazars has been carried out in accordance with all applicable accounting rules and principles” and that these financial statements “do not contain any significant anomalies.”.
These judicial troubles could complicate a possible second race to the White House. The 75-year-old billionaire lets the doubts run on its intention to brigue again, or not, the Republican investiture.