Mazars says Trump's “Statements of Financial Condition from 2011-2020 can no longer be relied on" and must be retracted.

[Tiny]

Originally Posted by nevergaveitathought

From the NY Times yesterday


In the letter, Mazars noted that the firm had not “as a whole” found material discrepancies between the information the Trump Organization provided and the actual value of Mr. Trump’s assets. But given what it called “the totality of circumstances,” the letter directed the Trump Organization to notify anyone who received the statements that they should no longer rely on them.

The link I posted is the actual letter. It doesn’t mention “the actual value of Mr. Trump’s assets.” Or anything like that.

[VitaMan]

So much smoke coming out of the Trump Organization. What are they covering up ? What conspiracy theory are they trying to hatch now ?

[VitaMan]

Originally Posted by Yssup Rider

What Aboutism and the 5 Ds of dumbassery.

Time to turn it off

2 remaining members on here have their daily favorite things to do.


One likes to double and triple post and post endless links and nothing else.
The other has a favorite response to every post and likes drawings.
Both in their 60s and posting totals now around 68,000 posts.



The forum has basically become useless.

[nevergaveitathought]

Originally Posted by Tiny

The link I posted is the actual letter. It doesn’t mention “the actual value of Mr. Trump’s assets.” Or anything like that.

when presenting personal balance sheet (statement of condition is the term used for a personal statement)

they are to be prepared using estimated current values

this is opposed to financial statements of an entity, which if in keeping with GAAP, is done on historical cost

so there might not be a mention of actual value, but there was of "no material discrepancies taken as a whole"

its a given and should be understood that "no material discrepancies taken as a whole" are determined by comparing the statement of financial condition to actual values as of the date of the statement

thats a given, what else would no material discrepancies apply to?

[Jacuzzme]

Yay, today’s serving of ‘Trump is finished’. Don’t you guys ever get tired of looking like fools?

[Tiny]

Originally Posted by nevergaveitathought

when presenting personal balance sheet (statement of condition is the term used for a personal statement)

they are to be prepared using estimated current values

this is opposed to financial statements of an entity, which if in keeping with GAAP, is done on historical cost

so there might not be a mention of actual value, but there was of "no material discrepancies taken as a whole"

its a given and should be understood that "no material discrepancies taken as a whole" are determined by comparing the statement of financial condition to actual values as of the date of the statement

thats a given, what else would no material discrepancies apply to?

Good points. I’ve prepared a statement of net worth for the banks before but have never gotten an accountant to sign off on it. So I don’t know what checks they make, if any, on the FMV of properties and businesses.

Maybe Mazars accepted estimates of FMV provided by the Trump Organization but don’t want to stand behind them now. That could be because they don’t think the values are reasonable. Or maybe they do think they’re reasonable but don’t want to back up Trump in his battle with the attorney general, as they’re afraid the AG will come after them.

[matchingmole]

Mazars decides they are dropping Trump Organization and then suddenly Fox News starts pushing this John Durham garbage, and Eric Trump starts crying on TV. If this isn't a distraction from the fact that the Trumps are in a ton of trouble, I don't know what is

[Jacuzzme]

So Durham is colluding with Trump to time releasing indictments with whatever idiotic story that is going to put President Trump in jail this week?

Your parents place must’ve had lots of lead paint.

[HedonistForever]

Originally Posted by Tiny

Good points. I’ve prepared a statement of net worth for the banks before but have never gotten an accountant to sign off on it. So I don’t know what checks they make, if any, on the FMV of properties and businesses.

Maybe Mazars accepted estimates of FMV provided by the Trump Organization but don’t want to stand behind them now. That could be because they don’t think the values are reasonable. Or maybe they do think they’re reasonable but don’t want to back up Trump in his battle with the attorney general, as they’re afraid the AG will come after them.

Bingo, we have a winner ladies and gentleman!

[1blackman1]

Which makes all the sense in the world. The client is shown to have lied and is under indictment, now Mazzers says, "nope, we were not part of that lie" have at Trump. Why would Mazzers subject themselves to an investigation into whether they performed any due diligence (if the is required) or into whether they might have aided Trump Org in facilitating their lies in other loan applications, disclosures and tax filings.

[bambino]

Originally Posted by VitaMan

2 remaining members on here have their daily favorite things to do.


One likes to double and triple post and post endless links and nothing else.
The other has a favorite response to every post and likes drawings.
Both in their 60s and posting totals now around 68,000 posts.



The forum has basically become useless.

Since you showed up.

[bambino]

Originally Posted by 1blackman1

Which makes all the sense in the world. The client is shown to have lied and is under indictment, now Mazzers says, "nope, we were not part of that lie" have at Trump. Why would Mazzers subject themselves to an investigation into whether they performed any due diligence (if the is required) or into whether they might have aided Trump Org in facilitating their lies in other loan applications, disclosures and tax filings.

Indictment by who Mr Attorney?

[1blackman1]

https://apnews.com/article/trump-org...753658e786cd88

https://www.documentcloud.org/docume...final-unsigned

[bambino]

Originally Posted by 1blackman1

https://apnews.com/article/trump-org...753658e786cd88

https://www.documentcloud.org/docume...final-unsigned

Not Trump and off topic.

[LexusLover]

Are there any positive posts in here about Bitten, or is this just a Trumped Up bashing?