Former President Donald Trump has been dealt with another blow when his longtime accounting firm decided to drop him. Legal experts have weighed in, saying that this is another bad sign for the former president, whose financial records are being scrutinized.
Legal experts have weighed in on the recent announcement by Trump’s longtime accounting firm Mazars that it has effectively decided to drop the former president. Mazars has also said that Trump’s financial records from 2011 to 2020 should not be relied upon. The New York Times broke the story this week.
Attorney Luppe B. Luppen shared the letter on social media, writing in a piece for Substack what the letter by the firm meant in effectively firing the former president. Luppen said that the firm’s request not to rely on Trump’s financial records from 2011 to 2020 suggests that Trump has also been misleading the company.
Another attorney, George Conway, also called the decision by Mazars “calamitous.”
“For any business (including a privately-held one) that has outside financing or investors, having your financial statements (let alone 10 years’ worth!) pulled by your accountants is just about the most calamitous thing that could happen to it, other than perhaps being indicted,” said Conway.
“This is a very carefully drafted letter. Mazars may have some concern over its own exposure,” said former SDNY Assistant US Attorney Richard Signorelli.
“If your own client sues you or if you are forced to take an adverse position against your client by prosecutor or shareholders, you have to resign,” said TheAuditors.com founder and editor Francine McKenna.
In other related news, the former president recently unveiled his social media platform called Truth Social. The platform was marketed to be a rival to Big Tech. The platform, scheduled to launch on March 31, might not be able to live up to how it was marketed, according to experts.
Time Magazine reported Tuesday that Truth Social, which mainly caters to a specific ideological viewpoint, may not be able to live up to other platforms such as Twitter, Facebook, and Discord. To note, Trump has been permanently banned from Twitter following the Capitol insurrection.