Donald Trump’s business empire of more than a decade has provided unreliable numbers, the former president’s accounting firm claims.
Now writes that they are withdrawing from cooperation CNN.
The reason must be a “non-negotiable conflict interest,” accounting firm Mazar claims.
“We came to this conclusion based in part on information from the New York Attorney General on January 18, 2022, in part on our own investigation and information we received from internal and external sources,” Mazar wrote in a statement.
Although the company has not reached a conclusion on the level of detail, it maintains that what it knows means that Mazar now does not trust the numbers provided by the Trump Organization.
This is bad news for the Trump Organization, and according to political analysts, the practice means the following:
- Trump dumped his accounting firm.
- It is possible that investors will be intimidated from investing their money, which will eventually lead to the bankruptcy of the organization.
- Dumping may help the ongoing investigation into Trump in New York.
According to Mazar, the only work they haven’t completed is filing tax returns for Donald Trump and Melania Trump.
The Trump Organization said in a statement that it is disappointed that the Mazars chose to separate the teams, but they see that their work was done according to the rules and does not contain significant deviations.
Researcher: – He does not trust him
In an e-mail interview with VG, Hilmar Megeldy, an American expert and researcher at NORSE, explains how the situation can be interpreted:
When the accounting firm gets rid of Trump, they say he can’t be trusted. Mjelde writes that it’s not the situation any entrepreneur would be in.
Mazars are trying to protect themselves. This may mean that they know something that the investigation into Trump in New York will reveal.
What does this say about Trump himself?
Trump has always worked in the moral and legal frontier. The Trump Organization has been in the spotlight from government for 50 years, since 1973, and regardless, we know Trump is immoral. Show this to the boss degree. Mjelde answers, but he also used it to his advantage – as a politician who played on the image of the “tough guy”.
Two investigations are underway in New York, both trying to find out whether the president’s company falsified its accounting numbers to avoid taxes and give it loans.
The New York state attorney general and a Manhattan district attorney scrutinized Trump’s accounts to determine whether insurance companies, lenders or others had been misled.
The New York attorney general is investigating whether Trump cited too low a value for his property, so the company could get lower taxes. The attorney general is also investigating whether the Trump Organization reported too high a property value to make banks provide better lending terms, he writes. Washington Post.
I found ‘important clues’
American researcher Hilmar McGildy believes that dumping does not affect Americans’ view of Trump:
– This is not something most people follow or care about. If his company collapses, this could be a problem for his political ambitions, Meldy analyzes.
Trump has been out of trouble for 50 years. Now Trump is making big money from his presidential title – it’s his most valuable asset. It’s profitable to be president, whether your name is Clinton, Obama, or Trump.
The fact that Mazar is now leaving what political analysts see as the sinking ship is another defeat for Trump – who still claims to be the legitimate president of the United States.
In a lengthy lawsuit last month, the New York State Attorney’s office claimed it found “substantial” evidence that the Trump Organization used fraudulent or misleading assessments to obtain a number of financial benefits, including loans, insurance coverage and tax deductions.
The New York attorney general has long sought to enforce a subpoena to obtain documents from Trump and ask for his testimony. The son of President Donald Trump Jr and Ivanka Trump has also been summoned to court.
Refers to different numbers
Trump himself responds to the shrine spam with claims the New York Times notes are false.
According to the newspaper, he claimed that in 2014, before his first election campaign, his fortune was $5.8 billion. The only problem was that it was not the amount that the former president occupied during the election campaign.
In 2015, on the contrary, he claimed that his value the previous year was $8.7 billion. This was said when he announced his candidacy. One month later, he claimed that his fortune is $10 billion.
This manipulation of numbers in his favour is one of the former president’s primary problems, according to the main newspaper: Donald Trump, who has spent his entire life “shaping reality according to his will”, has been caught up over the years in factual errors.
“My net worth fluctuates, and it goes up and down with markets, situations, emotions, even my feelings,” Trump said in 2007, according to the New York Times.
The statement was testimony in a lawsuit that Trump lost against a book that suggested he was not really a billionaire.
Last month, the New York State Attorney’s office claimed it had found “material” evidence that the Trump Organization used fraudulent or misleading assessments to obtain a number of financial benefits, including loans, insurance coverage and tax deductions.
They claimed that the accounts contained many “misleading statements and omissions”.
Threatening democracy
Random compromises with inaccuracies and lies are fundamental to Trump’s way of doing business. He himself used the term “honest exaggeration”.
This “highly effective form of promotion”, as Trump himself called, admitted using it to promote himself and build a brand, got him into the presidency and the White House.
Hjalmar McGildy believes that the situation Trump is going through is unfortunate on several levels:
Dumping is a problem for the Trump Organization. Trump’s coup attempt is a problem for the United States and the world. The American researcher says it threatens democracy.
– In what way?
The United States is the guarantor of liberal democracy. If the United States falters, democracy is threatened throughout the Western world.
“Organizer. Social media geek. General communicator. Bacon scholar. Proud pop culture trailblazer.”