Trump Cornered by Financial Fraud... Accounting Firm Announces "Suspension of Services"

Former U.S. President Donald Trump [Photo by Reuters]

[Asia Economy Reporter Cho Hyun-ui] As the prosecution's investigation into former U.S. President Donald Trump over financial fraud charges rapidly tightens, the accounting firm that has worked with the Trump family company for years has declared a split, calling it 'untrustworthy.'

The New York Times (NYT) reported on the 14th (local time) that "Mazars USA, a U.S. accounting firm, notified the 'Trump Organization' on the 9th to cease its services."

In the notification letter, Mazars stated, "We no longer consider the accounting advice we have provided based on the financial statements to be appropriate," adding, "We cannot provide any new services." They also said, "The financial statements of the Trump company over the past 10 years are not reliable."

Mazars explained that this decision was made based on materials submitted by the New York State prosecution, results from their own investigation, and information received from internal and external sources.

Mazars' declaration of separation came amid increasing pressure from the prosecution's investigation. Last month on the 19th, the prosecution announced that it had found evidence that the Trump company inflated the value of real estate such as golf courses and buildings to obtain loans and tax benefits.

Earlier, in December of last year, when former President Trump, his eldest son Trump Jr., and eldest daughter Ivanka refused to comply with the prosecution's summons, the prosecution intensified its pressure. The New York prosecution sent the notification letter signed by Mazars' legal counsel to the court, urging it to order former President Trump and his children to comply with the summons.

NYT reported, "It is unclear whether Mazars' decision is directly related to the prosecution's investigation, but Mazars had been trying to withdraw from the Trump side for some time."

The Trump side expressed "disappointment" over Mazars' notice to cease services but said it "positively accepts" Mazars' statement that no accounting discrepancies were found in the Trump company's financial statements.

This content was produced with the assistance of AI translation services.