336Robin Loc: North Carolina

This is very, very bad for the Trump Organization and it was based on their own internal investigation of his documents which is doubly bad. What happens if no one will take them?



HuffPost

https://www.yahoo.com/news/george-conway-accounting-firms-move-035756986.html

George Conway: Accounting Firm's Move Is Worse For Trump Than Being Impeached Twice
Josephine Harvey
Mon, February 14, 2022, 10:57 PM

An accounting firm’s decision to cut ties with the Trump Organization spells very bad news for former President Donald Trump, according to conservative attorney George Conway.

Trump’s longtime accounting firm, Mazars USA, sent a letter on Feb. 9 to Trump Organization executive vice president and chief legal officer Alan Garten notifying him of the firm’s decision to drop the business as a client. It also said that the financial statements it prepared for Trump between 2011 and 2020 “should no longer be relied upon.”

Those statements are at the center of two investigations into whether Trump illegally inflated the values of his assets to defraud lenders. The Mazars letter was included in a court document filed Monday by New York Attorney General Letitia James’ office.

According to Conway, who is married to Trump’s former senior White House counselor Kellyanne Conway, having a decade’s worth of financial statements pulled by accountants is “just about the most calamitous thing” that could happen to any business with outside financing or investors.

“This is worse for him than being impeached twice,” he added.



The firm compiled the financial statements based on information provided by Trump and the business. In its letter, the firm said it had reached its decision based, in part, on filings made by the attorney general’s office last month and on its own investigation and information received from various sources.

“While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate,” the letter said.

Conway interpreted the language for his followers:


Conway also spotted a detail in the numbering system used on the firm’s letter, which he said indicated that accountants had provided extensive materials to prosecutors.



Mazars USA’s letter could aid the New York attorney general’s civil probe. While no criminal charges can be filed in the case, the attorney general could sue Trump and the company to seek financial penalties or shut down parts of his business in the state.

This article originally appeared on HuffPost and has been updated.

lindajoy Loc: right here with you....

Well until we see what those financials prepared are all about this looks like a pretty good CYA of the firm… relying on the information is a standard practice every letter they write says, what they fail to address is there obligation to verify the representation being made… It is after all their business licensure and reputation at risk… And that would come in the request for documents on things they may have questions when they in fact prepared the documents to begin with.

Time tells all, just gonna have to wait it out and see what comes…

EmilyD

The timing is interesting with this...right after the D****m r****t comes out and Biden is trying to get into a war to revive his crashing economy. I won't be surprised if this is another nothingburger. I wonder if they were "paid" to do this? (Or bribed???)

lindajoy Loc: right here with you....

Pressure point tactics risking their business license you can bet has been “ suggested.”

bidens admin grasping at any fabrication they can drum up like that horrific Dossier Clinton paid to have made up.. Every one of them a POS in their own right…

An interesting regulatory introduction~~
Sarbanes-Oxley Act

Weewillynobeerspilly Loc: North central Texas

Ahhhhhhhhh, the smell of deflection early in the morning........ a Democrat scent that makes one want to scuba in a septic tank as its not near as offensive.

Gotta love a dedicated and blind to the obvious troll........ yup.

EmilyD

I was wondering about that, thanks for the tip (Sarbanes-Oxley Act)! My mind went to the questions of: How can the accounting firm say all the years they've been working for Trump, that THEIR financial information is NOT certified to be accurate? ... Aren't they required to stand by their work legally!?!? ... Can their responsibility be dismissed by just quitting?

336Robin Loc: North Carolina

I also wonder how much they are liable for. Sounds like they are coping a plea deal to me.

336Robin Loc: North Carolina

No. They are deciding to stop digging the hole they are in because they know they are liable for much. I would bet they are going to be turning over documents on a plea deal. This loss was big on the Trump side. Not one he should have thought would never happen but when you c***t your taxes for decades because you know you can get away with it then you start acting like you're supposed to be able to c***t because of who you are and you do even more to piss folks off well, that guy don't work here anymore. I hear he is living on the street.

lindajoy Loc: right here with you....

More than that they are charged with insuring the accuracy of their financial reports and validity…
And no, if they created what they call “ “creative financials” omitting or exaggerating debt(s) they then assume certain liabilities with it..Its one of the reasons your accountant sends you a letter claiming he is held to the standard of the documents you produce for pr********n of those financials… But Congress brought forth laws because so many investors were given wrong financials with no recourse against “errors and omissions”the need arose to have financial accountability, penalties and fines follow the chain of command so to speak.. So much more to it but this is a bit of how it flows…

lindajoy Loc: right here with you....

That how much is dependent upon the severity or egregiousness of what was done..
Yes, I agree it does sound like they’re trying to cop a plea.

AuntiE Loc: 45th Least Free State

Have you considered seeking psychological help? You are completely obsessed with Donald Trump. I would wager your welfare payments you could not go 72 hours without posting a thread about Trump.

336Robin Loc: North Carolina

I appreciate your being concerned about me, but bashing Trump for the want to be dictator he is, involves a lot of fun for me and enjoy it thoroughly because I am watching him and those that supported him get the karma they've been working on for a long time.

I spend a touch more time on this than I should but I have plenty to do other than this. I have the book that I'm writing, genealogy, a business plan I'm writing and plenty of outside work around the house. I hope you're well too but thank you. My psychological state is pretty good. I hope yours is?

Weewillynobeerspilly Loc: North central Texas

Every mentally defunct product produced by Democrats and their " thinking" say the same thing..... nah,you need help with that, address your lying while there and maybe get a 2 for 1........... if it smells like crap, feels like crap, tastes like crap....... be glad you didnt step in it.

336Robin Loc: North Carolina

I'll let you taste it for me!

EmilyD

Thank you, Linda. Very good to know, and great information!

I hope that a microscope with a bright light will be shone on this accounting firm. Something smells with this action of theirs - especially the timing.

A little off-topic, but I'm still reading about Sarbanes-Oxley, and it seems strange to me that huge corporations like P****r and M*****a (and all the other big pharma companies) are getting away with no liability for adverse reactions with their "v*****es" for so long. It seems like the "emergency" (if there ever even was one) is long over, and the EUA's should have expired by now. It's very obvious that there are other very effective treatments for C***d now that there has been plenty of time to explore those!