Mazars USA, the accounting firm that helps to prepare Donald Trump Organization’s annual financial statements is cutting ties with the company, stating that the documents used for securing loans could no longer be relied upon.

Mazars USA declares  Donald Trump financial statement faulty.

This was announced after New York’s Attorney General stated that the firm had misstated the value of its assets. In a letter sent to Trump Organization’s lawyer, Mazars USA LLP advised the company to inform anyone who had gotten the documents not to use them when assessing the financial health of the company and that of Mr. Donald Trump.

Just weeks after the New York Attorney General, Letitia James stated that her investigation unveiled evidence that Donald Trump and his company used false information or misleading valuations of its golf clubs, skyscrapers, and other properties to get loans and tax benefits. Mazars USA says it was cutting ties with Donald Trump — its highest-profile client.

The former president had insisted that he was under no obligation to hand over any materials — despite laws requiring him to do so. It was also noted that the former president used a secret service agent’s phone to call Melania Trump after news of his alleged affair with Stormy Daniels popped up in 2018.

The Trump Organization stated in a statement, “It was disappointed that Mazars has chosen to part ways, but took Kelly’s letter as a positive because the accounting firm hadn’t found material discrepancies in Trump’s financial statements”.