馃攳
Trump Organization's accounting firm cuts ties over dubious financial statements - YouTube
Channel: unknown
[0]
JUDY WOODRUFF: The longtime accounting聽
firm of former President Donald Trump聽聽
[4]
has cut ties with him, saying聽
it could no longer stand by a聽聽
[8]
decade of financial statements they聽
prepared for the Trump Organization.
[12]
Lisa Desjardins has more.
[15]
LISA DESJARDINS: The accounting firm, Mazars,聽
told the Trump Organization in a letter聽聽
[20]
that financial statements from 2011 to 2020聽
should -- quote -- "no longer be relied upon"聽聽
[26]
and said that the company should inform聽
others that the documents are not reliable.
[30]
This news comes amid ongoing聽
criminal and civil investigations聽聽
[34]
into the former president's financial assets.
[37]
Andrea Bernstein is an investigative reporter聽
and author of "American Oligarchs: The Kushners,聽聽
[43]
the Trumps, and the Marriage of Money and Power."聽聽
[46]
She has long reported on Trump's聽
finances for NPR, and joins me now.
[51]
Andrea, OK, translate this for us. What exactly聽聽
[55]
is this accounting firm saying聽
in their accounting language,聽聽
[58]
and how significant is this in their long history聽
with President Trump and his Trump Organization?
[63]
ANDREA BERNSTEIN, Author, "American聽
Oligarchs": It is significant.
[66]
And it's significant because Donald Trump is聽
no stranger to accusations of financial fraud.聽聽
[73]
There have been congressional investigations.聽
There have been previous investigations. There was聽聽
[78]
an indictment last June by the Manhattan district聽
attorney. And his accountants have stood by him.
[83]
And we learned yesterday due to a court filing聽
that they are no longer standing by him,聽聽
[88]
that they say they have an irreconcilable聽
conflict of interest, and that they cannot stand聽聽
[94]
behind almost a decade's worth of financial聽
statement. That's a big deal. Millions of聽聽
[100]
dollars in loan decisions and other decisions were聽
made in part on the basis of those statements.
[106]
And now the accountant says they聽
can't be considered reliable,聽聽
[109]
and you need to tell everybody聽
who's seen them that same fact.
[113]
LISA DESJARDINS: What does this mean聽
for the multiple investigations facing聽聽
[118]
both the former president and his organization,聽聽
[121]
all of which center around financial聽
fraud? Do we know what this means?
[125]
ANDREA BERNSTEIN: Well, not exactly.聽
But it is a sort of -- a signal flare.
[133]
What it tells us is that -- and we do know聽
members of this accounting firm, Mazars, have聽聽
[140]
been pressed for information, documents. There's聽
been testimony before a criminal grand jury.聽聽
[145]
And so it suggests a couple of things. It suggests聽
that they're under a great deal of pressure.
[150]
And, also, it really says something that the聽
president's -- the former president's longtime聽聽
[155]
accountants are making this public statement聽
about him at this moment, where we know the聽聽
[160]
Manhattan district attorney is actively engaged聽
in an ongoing grand jury investigation into聽聽
[167]
whether there was further criminality,聽
further fraud at the Trump Organization, and聽聽
[171]
the New York attorney general is聽
investigating whether the Trump聽聽
[174]
family business failed to pay聽
its share of New York taxes.
[178]
It's not a moment where you聽
want the accountant to say,聽聽
[181]
we're not standing by the聽
statements we issued over 10 years.
[187]
LISA DESJARDINS: The Trump Organization hasn't聽
been shy about handling league matters in the聽聽
[191]
past. How are they reacting to this? What are聽
they saying? What is the former president saying?
[194]
ANDREA BERNSTEIN: So, there聽
was a key line in the letter.
[197]
And the accountants said, we did not conclude聽
that the statements are not reliable.
[203]
And the spokesperson for the Trump Organization聽聽
[206]
leaned into that, and they said,聽
well, that is a vindication,聽聽
[210]
and it means both the district attorney and聽
the attorney general should drop their cases.
[215]
This is a familiar, to me, Trump Organization聽
and Trump legal response, to say something聽聽
[222]
vindicates them that does not vindicate聽
them, and, therefore, everyone shall move on.聽聽
[227]
So far, in these two cases,聽
at the tactic has not worked.
[233]
LISA DESJARDINS: Another Trump trademark, however,聽
is, he has long bragged about his ability to brag,聽聽
[239]
openly declared himself smart for聽
finding ways around paying taxes.
[244]
So, I'm curious, a big-picture聽
question here. How hard is it聽聽
[247]
to prove fraud against someone like former聽
President Trump or the Trump Organization?
[253]
ANDREA BERNSTEIN: Well, so we don't know聽
what the New York attorney general is聽聽
[257]
going to do. We don't know what further聽
steps the Manhattan DA is going to do.
[261]
But we do know from what has been聽
charged that the district attorney has聽聽
[265]
gathered a great deal of evidence that聽
the former -- the financial -- the聽聽
[273]
chief financial officer for the Trump聽
Organization and two Trump companies聽聽
[279]
deliberately did not pay U.S. taxes, according to聽
the indictment. Now, they have pleaded not guilty.
[284]
But what the charge is, is that, for 15 years,聽聽
[287]
including while Donald Trump was the head of聽
the U.S. government, his eponymous company,聽聽
[294]
according to the indictment, cheated the聽
U.S. government. That is quite a chart.
[298]
Now, again, they have denied all the charges and聽聽
[300]
the president himself has not聽
been charged with any crimes.
[303]
LISA DESJARDINS: Do you think, then, going聽
forward here, are we still -- are we facing聽聽
[309]
years before we understand kind of what all聽
of this means? Or where are we in these cases?
[313]
ANDREA BERNSTEIN: Well, I don't suspect years.
[315]
I mean, we do know we have already a great deal聽
of information in the civil investigation. This聽聽
[321]
is an investigation by New York Attorney聽
General Letitia James. And because the聽聽
[326]
Trump Organization has resisted turning over聽
information, has resisted getting testimony,聽聽
[331]
her office has put a great deal of聽
evidence into the public record.
[335]
In addition, in the separate criminal matter that聽
is brought by the Manhattan district attorney,聽聽
[339]
the judge in that case indicated he wants聽
there to be a trial in September. So, what聽聽
[343]
we could see is the specter of the chief聽
financial officer of the Trump Organization聽聽
[348]
and the former president's聽
companies being on trial for聽聽
[352]
criminal fraud just as we are turning聽
into the 2022 midterm election season.
[358]
LISA DESJARDINS:聽聽
[361]
No shortage of fascinating drama in the business聽
world surrounding former President Trump.
[367]
ANDREA BERNSTEIN: Indeed.
[368]
LISA DESJARDINS: Andrea Bernstein -- Andrea聽
Bernstein, thank you so much for joining us.
[370]
ANDREA BERNSTEIN: Thank you so much.
Most Recent Videos:
You can go back to the homepage right here: Homepage