An accounting firms decision to cut ties with the Trump Organization spells very bad news for former President Donald Trump , according to conservative attorney George Conway .
Trumps 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 firms 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 Trumps former senior White House counselor Kellyanne Conway , having a decades 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.
For any business (including a privately-held one) that has outside financing or investors, having your financial statements (let alone 10 years' worth!) pulled by your accountants is just about the most calamitous thing that could happen to it, other than perhaps being indicted.
George Conway (@gtconway3d) February 14, 2022","type":"rich","meta":{"author":"George Conway","author_url":"https://twitter.com/gtconway3d","cache_age":86400,"description":"For any business (including a privately-held one) that has outside financing or investors, having your financial statements (let alone 10 years' worth!) pulled by your accountants is just about the most calamitous thing that could happen to it, other than perhaps being indicted. 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USA","slug":"mazars-usa","links":{"relativeLink":"topic/mazars-usa","permalink":"https://action.news/topic/mazars-usa","mobileWebLink":"https://action.news/topic/mazars-usa"},"url":"https://action.news/topic/mazars-usa"},{"name":"PresidentDonald Trump","slug":"presidentdonald-trump","links":{"relativeLink":"topic/presidentdonald-trump","permalink":"https://action.news/topic/presidentdonald-trump","mobileWebLink":"https://action.news/topic/presidentdonald-trump"},"url":"https://action.news/topic/presidentdonald-trump"}],"isLiveblogLive":null,"isLiveblog":false,"cetUnit":"buzz_body","bodyAds":["\r\n\r\n","\r\n\r\n","\r\n\r\n"],"adCount":0},"isCollectionEmbed":false}">For any business (including a privately-held one) that has outside financing or investors, having your financial statements (let alone 10 years' worth!) pulled by your accountants is just about the most calamitous thing that could happen to it, other than perhaps being indicted.
George Conway (@gtconway3d) February 14, 2022
This is worse for him than getting impeached twice.
George Conway (@gtconway3d) February 14, 2022","type":"rich","meta":{"author":"George Conway","author_url":"https://twitter.com/gtconway3d","cache_age":86400,"description":"This is worse for him than getting impeached twice. 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USA","slug":"mazars-usa","links":{"relativeLink":"topic/mazars-usa","permalink":"https://action.news/topic/mazars-usa","mobileWebLink":"https://action.news/topic/mazars-usa"},"url":"https://action.news/topic/mazars-usa"},{"name":"PresidentDonald Trump","slug":"presidentdonald-trump","links":{"relativeLink":"topic/presidentdonald-trump","permalink":"https://action.news/topic/presidentdonald-trump","mobileWebLink":"https://action.news/topic/presidentdonald-trump"},"url":"https://action.news/topic/presidentdonald-trump"}],"isLiveblogLive":null,"isLiveblog":false,"cetUnit":"buzz_body","bodyAds":["\r\n\r\n","\r\n\r\n","\r\n\r\n"],"adCount":0},"isCollectionEmbed":false}">This is worse for him than getting impeached twice.
George Conway (@gtconway3d) February 14, 2022
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 generals 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:
\"decision regarding the financial financial statements\"=they are false because you lied
\"totality of the circumstances\"=the D.A. is serious
\"non-waivable conflict of interest\"=we are now on team D.A.
\"not able to provide new work product\"=sorry we're not going to jail for you https://t.co/jbK2WUjncy pic.twitter.com/NbbDhUCbrL
"decision regarding the financial financial statements"=they are false because you lied
George Conway (@gtconway3d) February 14, 2022
"totality of the circumstances"=the D.A. is serious
"non-waivable conflict of interest"=we are now on team D.A.
"not able to provide new work product"=sorry we're not going to jail for you https://t.co/jbK2WUjncy pic.twitter.com/NbbDhUCbrL
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Conway also spotted a detail in the numbering system used on the firms letter, which he said indicated that accountants had provided extensive materials to prosecutors.
check out the Bates number on the Mazars letter pic.twitter.com/tPKLL7q8oF
George Conway (@gtconway3d) February 14, 2022","type":"rich","meta":{"author":"George Conway","author_url":"https://twitter.com/gtconway3d","cache_age":86400,"description":"check out the Bates number on the Mazars letter pic.twitter.com/tPKLL7q8oF George Conway (@gtconway3d) February 14, 2022\n\n","options":{"_hide_media":{"label":"Hide photos, videos, and cards","value":false},"_maxwidth":{"label":"Adjust width","placeholder":"220-550, in px","value":""},"_theme":{"value":"","values":{"dark":"Use dark theme"}}},"provider_name":"Twitter","thumbnail_height":464,"thumbnail_url":"https://pbs.twimg.com/media/FLmFlwcXIAIAYUR.jpg:large","thumbnail_width":1125,"title":"George Conway on 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George Conway (@gtconway3d) February 14, 2022
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It suggests that the accountants have produced at least 525,838 pages of material to prosecutors
George Conway (@gtconway3d) February 14, 2022","type":"rich","meta":{"author":"George Conway","author_url":"https://twitter.com/gtconway3d","cache_age":86400,"description":"It suggests that the accountants have produced at least 525,838 pages of material to prosecutors George Conway (@gtconway3d) February 14, 2022\n\n","options":{"_hide_thread":{"label":"Hide previous Tweet in conversation thread","value":true},"_maxwidth":{"label":"Adjust width","placeholder":"220-550, in px","value":""},"_theme":{"value":"","values":{"dark":"Use dark theme"}}},"provider_name":"Twitter","title":"George Conway on 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USA","slug":"mazars-usa","links":{"relativeLink":"topic/mazars-usa","permalink":"https://action.news/topic/mazars-usa","mobileWebLink":"https://action.news/topic/mazars-usa"},"url":"https://action.news/topic/mazars-usa"},{"name":"PresidentDonald Trump","slug":"presidentdonald-trump","links":{"relativeLink":"topic/presidentdonald-trump","permalink":"https://action.news/topic/presidentdonald-trump","mobileWebLink":"https://action.news/topic/presidentdonald-trump"},"url":"https://action.news/topic/presidentdonald-trump"}],"isLiveblogLive":null,"isLiveblog":false,"cetUnit":"buzz_body","bodyAds":["\r\n\r\n","\r\n\r\n","\r\n\r\n"],"adCount":0},"isCollectionEmbed":false}">It suggests that the accountants have produced at least 525,838 pages of material to prosecutors
George Conway (@gtconway3d) February 14, 2022
Mazars USAs letter could aid the New York attorney generals 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.
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