Ivanka, what's the phone number for Arthur Anderson?

[MeDotOrg]

From CNN:

Former President Donald Trump's long-time accounting firm informed the Trump Organization last week that it should no longer rely on nearly 10 years' worth of financial statements and that they would no longer be their accountants, citing a conflict of interest.

"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General on January 18, 2022, our own investigation, and information received from internal and external sources," Mazars wrote in a letter to the Trump Organization chief legal officer, advising them to no longer rely on financial statements ending June 2011 through June 2020.

"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 company also advised the Trump Organization to inform any recipients of the statements, such as lenders or insurers, to not rely on the statements.

A bit to parse here: The accounting firm cites a conflict of interest, which I would guess means that both Trump and Mazars are contestants on To Tell The Truth, hosted by Letitia James. And Mazars cannot stay in business if it knowingly makes fraudulent representations about Trump finances to the New York AG.

A bigger immediate question arises: The company also advised the Trump Organization to inform any recipients of the statements, such as lenders or insurers, to not rely on the statements

Insurance? Bonds? Loans? How does the Trump organization fill out a loan application if there is no independent appraisal of their finances? Assuming Trump finds an accounting firm willing to take on a high risk responsibility, how long will it take an accounting firm to sign off on 9 years of financial statements?

Or Trump could just ask the banks and insurers to trust him.

[MeDotOrg]

I don't think the Mazars story is getting the attention it deserves. The reverberations were felt in court, when Judge Engoron ruled that Trump and his 2 eldest children must be deposed. The judge described Mazar's divorce from Trump financials as a “red-flag warning that the Trump financial statements are unreliable” and criticized Trump’s company for its contention, in a statement to the news media, that because the accounting firm did not conclude there were material discrepancies in the documents, James’ investigation should be shut down. That claim, he wrote, “is as audacious as it is preposterous.”

So Mazars rumbled through the courts this week, but that could be just the beginning. Follow this down the rabbit hole, and you begin to see how wealth can be based on the perception of wealth. And Trump is acutely aware of perceptions of wealth.

Trump's Washington D.C. hotel is reportedly losing money. No worries, says Donald, he has found an investor willing to give him $375 million for the lease. But because the lease was negotiated with the Federal Government on the basis of financial worth reported by Mazars, that information is no longer relevant. If the Government decides that Trump was deceitful in the financial representations made, they could void the lease. Without a lease, there is nothing for Donald Trump to sell. The $375 million dollar buyout savior has nothing to buy.

But losing 375 million could just be the beginning. Trump financed the D.C. hotel through Deutsche Bank, with financials given by, you guessed it, Mazars. If Deutsche Bank was given fraudulent information from Trump to get the loan, they can demand repayment of the loan immediately. That would bring the total valuation swing to nearly half a billion dollars. That's on ONE property.

You see how this can snowball. Losing the D.C. hotel would not play well in any market where Trump needs credit.

As far as Trump, Don Jr. and Ivanka being deposed, how many times do you think they will exercise their 5th Amendment Rights? Keep in mind, Eric Trump already was deposed, and took the 5th over 500 times. I'm not a betting man, but I would imagine the over/under on pleading the 5th is going to be up there.

[Doctor CamNC4Me]

They ain’t sayin’ crap, and their lawyers will bog everything down in procedure. I’m sure RI could enlighten us with regard to the tactics a savvy lawyer could do this for the Trump's.

I think the big question is how the Trump's will shift assets before their creditors make a run in his assets. With the accounting firm not only dipping on them, but cooperating with the NY AG and probably the feds, it’s a matter of time before they’re forced to liquidate their holdings to satisfy debts. I read something a day or two ago where Ivanka was shifting money either to herself or her husband - I forget the details, but if it’s making news it’s probably an indicator with regard to the oncoming financial crap storm they’re anticipating.

I guess we’ll see. It’s very interesting, for sure. I wonder if the IRS can take a Presidential pension …

- Doc

[Chap]

As far as Trump, Don Jr. and Ivanka being deposed, how many times do you think they will exercise their 5th Amendment Rights? Keep in mind, Eric Trump already was deposed, and took the 5th over 500 times. I'm not a betting man, but I would imagine the over/under on pleading the 5th is going to be up there.

But, but ...

https://www.newsweek.com/donald-Trump-q ... el-1660741

On the campaign trail in 2016, Trump bashed Hillary Clinton after some members of her staff invoked the amendment during a congressional investigation.

"You see the mob takes the Fifth," he said during one rally in Iowa. "If you're innocent, why are you taking the Fifth Amendment?"

Which way will Trump jump?

[Doctor CamNC4Me]

To add to the quote - from the AP:

“The mob takes the Fifth,” Trump told a campaign crowd in Iowa when running for president.

“If you are innocent, do not remain silent,” Trump tweeted in 2014, offering free advice as Bill Cosby faced a flurry of sexual assault accusations. “You look guilty as hell!”

- Doc