Tax firm Mazars fires Trump Organization as client, says former president’s financial statements are unreliable

#51
#51
landscapingvol said:
The amount of lunacy you display towards Trump is amusing. What "king like" ambitions did he portray? Wouldn't a king try to consolidate more power in the government or would he just make ridiculous statements?
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Exhibit 1. I defer to Trump's own claim.

adfs.png

I rest my case.
 
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#52
#52
luthervol said:
There is absolutely no reason to believe that if Trump had won, Putin would have acted any differently toward Ukraine.
Peace through fear of a horrendously despicable madman is fleeting at best.
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Didn't you promote that Trump not be allowed the nuclear codes and sighting some general somewhere? If you believed that our own generals were afraid that he would nuke someone, don't you think that other countries leaders were as well?
 
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#53
#53
Sandman 423 said:
Didn't you promote that Trump not be allowed the nuclear codes and sighting some general somewhere? If you believed that our own generals were afraid that he would nuke someone, don't you think that other countries leaders were as well?
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I have no doubt they viewed him as crazy.
 
#54
#54
Vol8188 said:
Sure I’ll happily defend this. I could value a taco truck is earning 20k a year using the same valuation left wing senators use to proclaim Elon Musk is evil and doesn’t pay enough taxes at a value of 25.37 million.

Or I could use a more common 15-20x earnings and proclaim its worth 400 thousand.

Those are all insanely high for a taco stand that should likely be valued around 50k (this would be primarily based on price to book value).

This is why it’s insane to try to tax wealth and also why this is just political nonsense. You’re wanting to prosecute a man because you disagree with his subjective valuation. Valuations he probably didn’t come up with in the first place

I naturally assume all politicians are dirty but the more you guys go after trump over nothing and openly announce you’ll do so, the more clear he appears

Edit: I once actually thought you were super young until your conversation about the swim team on here. So my question to you is, are you unaware of how subjective valuation is? If it is super subjective, what's the real issue here? Just a desire to take him down at all cost or do you actually believe this should be a crime?
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:rolleyes:

Either you're playing dumb or, well, just don't understand the allegations against Trump.

Here's ultimately why he's being accused of financial fraud:

When Trump wanted to show he was very "rich" to do things like try to buy the Buffalo Bills, he *inflated* the value of his assets.

When Trump wanted to minimize his taxes, he *deflated* the value of the same assets.

This. Is. Fraud. Also, potentially tax evasion.

If you don't understand this, you're probably guilty of it.
 
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#55
#55
MontyPython said:
:rolleyes:

Either you're playing dumb or, well, just don't understand the allegations against Trump.

Here's ultimately why he's being accused of financial fraud:

When Trump wanted to show he was very "rich" to do things like try to buy the Buffalo Bills, he *inflated* the value of his assets.

When Trump wanted to minimize his taxes, he *deflated* the value of the same assets.

This. Is. Fraud. Also, potentially tax evasion.

If you don't understand this, you're probably guilty of it.
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Everyone on the planet is guilty of this "crime". Do you think it was Trump himself who came up with these valuations?

When you fill out a loan application do you go with the lowest reasonable value or the highest?
 
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#56
#56
MontyPython said:
:rolleyes:

Either you're playing dumb or, well, just don't understand the allegations against Trump.

Here's ultimately why he's being accused of financial fraud:

When Trump wanted to show he was very "rich" to do things like try to buy the Buffalo Bills, he *inflated* the value of his assets.

When Trump wanted to minimize his taxes, he *deflated* the value of the same assets.

This. Is. Fraud. Also, potentially tax evasion.

If you don't understand this, you're probably guilty of it.
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And every real estate developer does the same thing and that is why lenders typically require audited financials. When you hire a firm to audit your financials they will NOT sign off on the audit if they even get a whiff that you are hiding something.
 
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#57
#57
Vol8188 said:
Everyone on the planet is guilty of this "crime". Do you think it was Trump himself who came up with these valuations?

When you fill out a loan application do you go with the lowest reasonable value or the highest?
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Ye olde "everyone else does it" response, eh?

Be sure to tell that to the cop next time you're pulled for going 80 in a 65. I'm sure he'll let you off.
 
#58
#58
MontyPython said:
Ye olde "everyone else does it" response, eh?

Be sure to tell that to the cop next time you're pulled for going 80 in a 65. I'm sure he'll let you off.
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Bet if I had a cop in the seat next to me auditing my speed the cop that pulled me over would let me go.
 
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#59
#59
hog88 said:
And every real estate developer does the same thing and that is why lenders typically require audited financials. When you hire a firm to audit your financials they will NOT sign off on the audit if they even get a whiff that you are hiding something.
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"The Statements of Financial Condition for Donald J. Trump for the years ending June 30, 2011 - June 30, 2020 should no longer be relied upon."

- Mazars USA
 
#61
#61
MontyPython said:
"The Statements of Financial Condition for Donald J. Trump for the years ending June 30, 2011 - June 30, 2020 should no longer be relied upon."

- Mazars USA
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Do you understand what they are saying? They are admitting incompetence at best or being an accomplice to fraud at worst. Either way that firm is ****ed.
 
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#62
#62
MontyPython said:
Ye olde "everyone else does it" response, eh?

Be sure to tell that to the cop next time you're pulled for going 80 in a 65. I'm sure he'll let you off.
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So we agree it’s a petty nonsense crime? If the best you can do is compare it to speeding, I’m not impressed.

If you spend years investigating the man and a speeding ticket is all you get, you’ve failed
 
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#63
#63
Vol8188 said:
Everyone on the planet is guilty of this "crime". Do you think it was Trump himself who came up with these valuations?

When you fill out a loan application do you go with the lowest reasonable value or the highest?
Click to expand...
Reasonable is a key word here.
 
#64
#64
hog88 said:
And every real estate developer does the same thing and that is why lenders typically require audited financials. When you hire a firm to audit your financials they will NOT sign off on the audit if they even get a whiff that you are hiding something.
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Unless they are in on it as well. Which is possible and why they are going to find the fall guy and separate themselves. I mean didn't Enron have audited financials as well? Go after Trump but don't stop there. Go after every single one that uses the same tactics. But picking and choosing on which to go after is a joke.
 
#66
#66
acd4476 said:
Reasonable is a key word here.
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You must’ve missed my taco truck post. If I use the same numbers used to evaluate Tesla (over 120x earnings) I could reasonably call it a 2.5 million dollar business.

If I use book value I would probably call it a 50k dollar business.

So what was unreasonable here?
 
#67
#67
hog88 said:
Do you understand what they are saying? They are admitting incompetence at best or being an accomplice to fraud at worst. Either way that firm is ****ed.
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"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," Mazars wrote in a letter to the Trump Organization chief legal officer, advising them to no longer rely on financial statements ending June 2011 through June 2020.

Seems as if they have gotten additional information that would not be expected from following normal procedures.
 
#69
#69
luthervol said:
"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," Mazars wrote in a letter to the Trump Organization chief legal officer, advising them to no longer rely on financial statements ending June 2011 through June 2020.

Seems as if they have gotten additional information that would not be expected from following normal procedures.
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You mean the attorney general who stated she was going to investigate trump without knowledge of any crime in hopes of finding something?

Can you at least understand why people would be skeptical?
 
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#70
#70
Vol8188 said:
You mean the attorney general who stated she was going to investigate trump without knowledge of any crime in hopes of finding something?

Can you at least understand why people would be skeptical?
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What's her quote?
 
#72
#72
acd4476 said:
Unless they are in on it as well. Which is possible and why they are going to find the fall guy and separate themselves. I mean didn't Enron have audited financials as well? Go after Trump but don't stop there. Go after every single one that uses the same tactics. But picking and choosing on which to go after is a joke.
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What is so bad about this that you believe we should continue the witch hunt and even apply it to others? Do you want to get those dirty dopers too?
 
#73
#73
Vol8188 said:
“We will use every area of the law to investigate President Trump and his business transactions and that of his family as well,” James said in a recent interview with NBC News. “We want to investigate anyone in his orbit who has, in fact, violated the law.”

She stated that without proof or evidence of laws broken.
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lol....I read the whole link you provided earlier. There was ample evidence already in place that warranted new or continued investigations.
 
#74
#74
luthervol said:
"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," Mazars wrote in a letter to the Trump Organization chief legal officer, advising them to no longer rely on financial statements ending June 2011 through June 2020.

Seems as if they have gotten additional information that would not be expected from following normal procedures.
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No, that is not what that means.
 
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