New York State Investigations of Trump and Related

[Dave from down under]

Witness for the prosecution...

[Jim]

Isn't that like Mazars trying to put the toothpaste back into the tube or more like rats jumping a sinking ship? Or both?

Is it possible they could be looking at an Arthur Andersen level liability for covering up for the Trump Organization?

[noblepa]

When I worked for Ernst & Whinney, back in the 1980's, it was explained to me that, while privately held companies are not required to be audited by the SEC, as publicly traded companies are, lenders and other creditors often require audited financial statements, in order to approve loans or purchases on credit.

It was further explained that auditors have no legal duty to uncover fraud while conducting an audit, but, if fraud or discrepancies are found, they have an ethical responsibility to report such to the authorities. Furthermore, the auditors have an ethical responsibility to withhold their approval of the financial statements. IOW, if the client is successful in hiding fraudulent transactions from the auditors, they auditors have no liability, unless they are complicit or do not exercise due diligence.

Mazers may have simply come to the realization that The Trump Organization is more likely than not to have lied to them, in order to obtain audit approval. They may be saying that they can no longer, in good faith (if they ever had any good faith) certify that the financial statements are accurate. I don't think that they are making the positive statement that the financials ARE inaccurate.

IANAL, or a CPA, but it seems to me that any lenders who relied on those audited statements in approving loans to Trump, may have some recourse, but I couldn't say what it might be. Perhaps they can increase interest rates. I think the worst case (for Trump, anyway) is that the loans may become due immediately. There's no way that Trump could pay if a bunch of those yuuuge loans were called.

OTOH, Mazers may very well have known of and been complicit in Trump's fraudulent financial statements and are now throwing him under the bus in an attempt to cover their own asses.

[MN-Skeptic]

After seeing this news, I was curious about just who Mazars is. I found this article and highly recommend it -

Meet the Shadowy Accountants Who Do Trump’s Taxes and Help Him Seem Richer Than He Is

[Dave from down under]

I soooooo... hope that the Trump underbusing is not just 3 at onces but a whole fleet of long haulers and suburban plus school buses..

[filly]

Isn't that like Mazars trying to put the toothpaste back into the tube or more like rats jumping a sinking ship? Or both?

I’d go with the rats. I suspect multiple aiders and abbettors inside Mazar’s now I am going to read the article our friend from MN linked.

[Mr brolin]

Isn't that like Mazars trying to put the toothpaste back into the tube or more like rats jumping a sinking ship? Or both?

Is it possible they could be looking at an Arthur Andersen level liability for covering up for the Trump Organization?

So long as the relevant seniors/partners who signed off on the accounts can demonstrate that they followed the GAAP guidance...based on the documentation and information provided by Trump Org and did not guide, collude, infer or assist in bad practice they basically walk.

The Enron/Anderson issue arose because some employees if AA were directly involved in the fraudulent reporting, actively destroyed documentation and were generally an active partner in the general mopery and dopery.

Mazars have already blotted their copybook with Trump by actually turning over documentation under subpoena, they may be taking this as an opportunity to wash their hands, infer without stating it that the Trump org handed them fraudulent instruments and trying for a clean'ish "Exit....stage right".

[filly]

After seeing this news, I was curious about just who Mazars is. I found this article and highly recommend it -

Meet the Shadowy Accountants Who Do Trump’s Taxes and Help Him Seem Richer Than He Is

Thanks. I realized I’d read this before but interesting to read again in light of today’s news. Garbage in , garbage out.

[Tiredretiredlawyer]

Well, MN, you are going to be the go to Fogbow Eggspert on this Mazars business. Accountants, sharpen your pencils....!

[Kendra]

Quick glance at Fox website and couldn't find mention, but they're all over the Durham story.

[Dr. Ken]

Waiting for this

FLmNpMSVcAIucz5.jpeg (141.75 KiB) Viewed 1797 times

[MN-Skeptic]

So now the Trump Organization needs to find new accountants and new tax return preparers. I wonder how that is going to go. Reputable firms will take a hard pass. They're on notice that the Trumps can't be relied on to provide accurate information. Less reputable firms? It might pay well, but you're going to be in the cross hairs of the government. Do you really want that attention?

[Kendra]

So now the Trump Organization needs to find new accountants and new tax return preparers. I wonder how that is going to go. Reputable firms will take a hard pass. They're on notice that the Trumps can't be relied on to provide accurate information. Less reputable firms? It might pay well, but you're going to be in the cross hairs of the government. Do you really want that attention?

Assuming he actually pays them...

[Phoenix520]

Nobody knows more about taxes than I do.

Do them yourself, then, stable genius.

[AndyinPA]

Cash up front.

[Kendra]

Hannity just now has Eric Trump on air.

[AndyinPA]

You're brave.

[bob]

[Kendra]

You're brave.

What a piece of crap that was...

He sounds nervous.

[MN-Skeptic]

Hmmmm… learn something new every day.

[keith]

Slight sidestep.

So junior took the 5th eleventy ten times in his deposition/testimony which CAN be taken againgst him in the civil case.

But this latest stuff is really looking like criminal charges could be coming soon.

Perhaps, junnie KNEW that was going to be exposed and he'd rather be mysterious in the civil case than give testimony he cant take back for the criminal.

Does this indicate he may have found competant legal counsel?

[Kriselda Gray]

Hmmmm… learn something new every day.

Sorry, I'm not familiar with business/accounting documents so I don't get the significance... can anyone offer a brief explanation? Thanks!

[Lani]

"Acrobat lets you add a header and footer throughout a PDF. Headers and footers can include a date, automatic page numbering, Bates numbers for legal documents, or the title and author. You can add headers and footers to one or more PDFs."

Apparently, Mazars hand over A LOT of documents!

[MN-Skeptic]

Sorry, I'm not familiar with business/accounting documents so I don't get the significance... can anyone offer a brief explanation? Thanks!

IANAL, but it appears that all documents involved in an investigation needs a unique identifier. I don't know who else the NY Attorney General is getting info from in this case, but Mazars is an important source. With this document, they are now up to page 525,838 of documents from Mazars. That's a lot of financial documents to go through!

[RTH10260]

https:// twitter.com/Acyn/status/1493410649942097921

Acyn @Acyn
Eric Trump: At what point is it acceptable to break into the servers at the White House

3:23 AM · Feb 15, 2022

When you are a foreign nation and have outwitted all the NSA, CIA, FBI, Secret Service and numerous other agencies that have brighter minds than certain sons of a former guy.