Donald Trump defends financial documents after accounting firm says statements 'not reliable'

"My company has among the best real estate and other assets anywhere in the world, has significant amounts of cash, and has relatively very little debt, which is totally current," Trump said. 

Updated: February 15, 2022 - 11:22pm

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Former President Donald Trump on Tuesday released his company's 2014 Statement of Financial Condition by Mazars after the accounting firm said his statements "should no longer be relied upon."

Trump said he told Mazars in 2014, before he announced his presidential candidacy, that his company's total liabilities and net worth stood at more than $6.3 billion. 

"Anyone with even a minor degree of financial acumen would recognize that these Statements of Financial Condition, prepared for the Trump Organization, are not audited— Which is also prominently highlighted in the Disclaimer Declaration," the former president wrote, attaching a picture of the two-page disclaimer statement.

Mazars ended its accounting relationship with the Trump Organization in a letter published Monday. New York Attorney General Letitia James (D) last month accused the company of regularly misstating the value of Trump assets.

"While we have not concluded that the various financial statements, as a whole, contain material discrepancies, based upon the totality of the circumstances, we believe our advice to you to no longer rely upon those financial statements is appropriate," a Mazars attorney wrote.

"My company has among the best real estate and other assets anywhere in the world, has significant amounts of cash, and has relatively very little debt, which is totally current," Trump said. 

He estimated his company has a net worth of at least $8 billion now.

"Based on current enthusiasm and transactions which have or will take place, the brand value today could be, in my opinion, substantially higher. But even at the low number, this would impart a Net Worth of approximately $8 to $9 billion," he speculated. 

Mazars withdrew from the Trump account after facing harassment and threats, Trump stated. 

"I wish they had the courage to fight it out," wrote the former president, "but they didn't, and who can blame them, but in their forced letter of surrender, Mazars does strongly state that all work was 'performed in accordance with professional standards' and that there were 'no material discrepancies in the financial statements.'"

The former president also criticized elected officials who have investigated him.

"[New York state Attorney General] Letitia James got elected by violently attacking 'Donald J. Trump,' even though she knew nothing about me," Trump wrote. "Likewise, District Attorney Alvin Bragg 'bragged' that he has sued President Trump over 100 times, more than anybody else. He is now working hand-in-hand with people from the law firm which is one of Hillary Clinton's biggest donors." 

Trump concluded by saying that law enforcement should focus on "murderers, drug dealers and rapists instead" of continuing the "sham investigation" against him, which he said is the "continuation of a Witch Hunt."