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

#151
#151
MontyPython said:
Trump is a cheating liar? Wut.

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


The accounting firm Mazars has fired the Trump Organization as a client after saying that a decade’s worth of statements of ex-President Donald Trump’s financial condition “should no longer be relied upon,” the New York Attorney General’s office revealed in a court filing Monday.

Mazars, which for years prepared Trump’s income tax returns and financial statements used to obtain loans for his company, told the Trump Organization’s top lawyer Alan Garten that it would no longer represent the company due to the lack of reliability of the financial statements in a letter last Wednesday.

The letter was cited by AG Letitia James’ office on Monday as it asked a state judge to order the Trump Organization, Donald Trump Jr. and his sister Ivanka Trump, and others to comply with subpoenas seeking documents and testimony.

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AKA, I'm a Democrat and I don't want his buisness.
 
#154
#154
MontyPython said:
Heh. Sure. Explain this...

The sprawling property north of New York City was purchased for $7.5 million in 1995. But by 2014, the Trump Organization said it was worth $291 million, in financial documents its officers prepared when they were seeking a bank loan. Four years later, on Mr. Trump’s ethics disclosure form, it was listed as being worth no more than $50 million.

and this...

The same category used for even Springs was used for Trump's triplex apartment, which was given a value of $127 million. Valuations done on the Manhattan apartment since 2012 were done based off the claim that the property was 30,000 square feet. In reality, James said, the property was 11,000 square feet — and Trump signed documents in 2012 confirming that number, the attorney general claims.

Financial statesments from 2015 and 2016 still made the claim that the triplex was the much larger size, and valued it at $327 million. But in testimony given to the attorney general's office, Trump Organization CFO Allen Weisselberg said that the apartment's value was overstated by "give or take" $200 million.

and this...

When Trump bought the Aberdeen, Scotland, property in 2006, it was valued at $12.6 million — but was valued at $161 million just five years later, the investigation found. That valuation was found not to be professionally determined, but rather based on an email prepared to send to Forbes magazine for a quote.

In 2014, a financial statement by the Trump Organization valued the property at nearly $436 million, basing that off the right to build 2,500 luxury homes on it. But the company had approval to build under 1,500 holiday apartments and golf villas only, James said.

and this...

TRUMP INTERNATIONAL GOLF CLUB WESTCHESTER. After purchasing the golf club at $8.5 million, Trump said in a 2011 financial statement that the property was valued at $68 million. A portion of the total reflected initiation fee for 67 unsold memberships to the club, which would be worth nearly $13 million if each membership cost $150,000, the financial statement claimed.

However, the investigation not only found that membership rate to be completely made up, but that many new members paid no deposit whatsoever in 2011, and the Trump Organization showed that no members paid the initiation fee in 2012.

and this...

40 WALL STREET. The Trump Organization owns what is called a "ground lease" for the property, which means that it owns a leasehold interest in the land and the buildings on the land, but pays rent to the owner.

The attorney general's office said that it obtained evidence showing outside appraisals from 2010-2012 valued Trump's interest in the property at $200-$220 million. At the same time, Trump's financial statements claimed the address' value nearly three times as much ($601 million in 2010, $524 million in 2011, $527 million in 2012), James' office said.

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The list literally goes on and on and on.

So defend this lying cheater. Go.
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Trump is a rich person who lies and cheats. What’s your point? Do you not understand how rich people keep their wealth? There is nothing to defend. That’s how the system works. Grow up and stop swinging off of Trumps massive coin sack. Good grief.
 
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#156
#156
Two prosecutors leading Manhattan criminal probe into Trump RESIGN after new DA Alvin Bragg raised 'serious doubts' about case: Probe grinds to halt with NO witnesses questioned for a month

  • The investigation is separate from a civil tax fraud probe being run by New York Attorney General Letitia James, which Trump was deposed for
  • He hasn't been accused of wrongdoing in either of the investigations
  • A former SDNY prosecutor said the top attorneys' resignation means it's 'dead'

Two prosecutors leading the Manhattan District Attorney's criminal tax fraud investigation into Donald Trump and his family business have abruptly resigned, it was reported on Wednesday.

Attorneys Carey R. Dunne and Mark F. Pomerantz stepped down from the case after new Manhattan District Attorney Alvin Bragg expressed doubts over moving forward with a case against Trump, the New York Times reported.

Two Manhattan prosecutors leading criminal tax fraud investigation into Trump RESIGN over 'doubts' | Daily Mail Online
 
#160
#160
MontyPython said:
Disagree. Trump's time in office thoroughly proved his incompetence. Worse was his King-like ambitions.

Glad he got the boot, and glad he ain't ever coming back.
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If you classify Trump as incompetent, I'm curious as to how you classify the current cast of clowns running the White House circus?
 
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