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AP National Business

Accounting firm: Trump financial statements aren’t reliable

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Published 4:51 PM

By MICHAEL R. SISAK
Associated Press

NEW YORK (AP) — The accounting firm that prepared former President Donald Trump’s annual financial statements says the documents, used to secure lucrative loans and burnish Trump’s image as a wealthy businessman, “should no longer be relied upon” after investigators said they found evidence he and his company regularly misstated the value of assets. Mazars USA LLP disclosed its findings and cut ties with the Trump Organization in a letter on Feb. 9, just weeks after New York Attorney General Letitia James said her office uncovered evidence Trump and the company used “fraudulent or misleading” valuations of its golf clubs, skyscrapers and other property to get loans and tax benefits.

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