Donald Trump's accountants apparently booted him at some point in the last week,
that is Mazars USA.
They've been the accounting firm that the Trump organization has used for
many years.
They have apparently parted ways with Trump.
They ended their relationship at some point calling into question very
specifically, not by implication.
They are calling into question the trustworthiness of a decade's worth of
financial statements that had been prepared by Mazars USA for
the trump organization.
This was revealed in court documents filed Monday as part of an investigation by
the attorney general of New York into the trump organization's business practices.
That's been an ongoing investigation, this is just the latest development.
So Mazars sent a letter to the Trump organization, this is dated February 9th.
So very recent saying that annual financial statements are prepared for
Trump between 202011 and 2020 should no longer be relied upon.
And in part they say well we have not concluded that the various financial
statements as a whole contained 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.
So there is a lot of like weasel language and vague language here
which we can definitely speculate upon, but they are cutting ties.
And they've been working with the Trump organization for
a long time and this is not like Genk or I getting a new tax prep person.
An accounting firm that works with an organization as big as the Trump
organization, that is a huge thing, a very valuable contract for them to have.
So there's got to be a good reason why they don't want to be involved
them anymore.
And while going out the door not just saying goodbye, but
saying, basically all that work we did for you.
Yeah, we're not necessarily gonna stand by that.
>> Yeah, so this is actually very large news and for
the first time leads to a tiny percentage hope that
Donald Trump might actually be prosecuted and go to jail.
Okay, hold, I'll give you the percentages in my opinion this second, but
first let's give more context.
So there are three layers of potential financial crimes that Donald Trump did.
One is the one that he already got that the proceedings have begun on and
his chief financial officer has been indicted on which it
depends on your way of looking at it.
But I would call it honestly low level criminality, right?
Hey you they gave an apartment to the CFO's son and
they should have paid taxes on it but they didn't and they didn't report it etcetera.
Is it illegal?
Yes.
If you got caught on it would you suffer consequences?
Very, very likely, Okay.
Then there is larger level of financial crimes,
which is regularly reporting something on the IRS forms.
And then reporting completely different values for
your properties when you're getting alone.
So you want the properties to be valued high when you're getting alone because
you're gonna borrow off of them.
You wanted to be valued low when you were submitting it to the IRS because you
wanna pay less tax on it, that is not at all kosher.
And when Trump says, to just a genius business move to go bankrupt,
that's why I went bankrupt.
You stiffed the people who trusted you and give you money and
then that way you don't have to pay him back.
And I know right wingers actually believe that, no,
it is not savvy business to go bankrupt.
I have to explain these simple concepts right and no lying to the IRS.
Is not a simple matter or lying too by the way creditors.
That is significant criminal activity.
>> Specifically, what you're talking about there is,
there was a bit of a viral moment that's basically the sort of
crime that Representative Ocasio Cortez was talking with Mike Cohen about?
>> Yes.
>> During his testimony.
>> Yes, and Michael Cohen's come on TYT as well and talked about it here as well.
And so and this Mazars revelation is related to that level of
crime because they did accounting for Donald Trump.
Where he was playing with all the different numbers and
making up wildly different numbers for the same properties.
Now I don't know what happened at Mazars, but
very likely what happened was they got their hand caught in the cookie jar.
They didn't know for a decade that trump was playing with the property values.
Have you ever met Donald Trump?
They met Donald Trump and they trusted his numbers.
Well, no, but that's not their job.
Your job is not to trust the numbers, their job is to validate the numbers.
So I think Mazars is in a lot of legal trouble and
not I think I know because you don't do this to a client because every other
client's gonna go, hey are they going to do it to me?
That is a very significant problem for their firm.
You don't do that to a client, especially one as high profile as Donald Trump,
unless you did something terribly illegal and
you're trying to get the hell out of the building.
And you are now cooperating with prosecutors and
said it wasn't me, it wasn't.
My God, I had no idea what his property values were.
Who could figure out what property values are, what am I in accounting for?
Actually you are.
So then putting that letter out means they pulled the chute, they're gone.
They're trying to avoid criminal responsibility themselves and Trump.
If he was a regular person would be in massive trouble,
that's not a little illegal.
That's a lot of legal and that gets you a lot of time in jail or in prison, okay?
I haven't gotten to the third layer yet.
>> Sure, not directly in prison yet
because the investigation that the New York AG Tish James is engaged in can't
directly result in criminal charges just civil like financial charges.
But it could lead into something else that is.
>> So yeah, let's let's be clear about that.
So the civil charges have been laid out but
they are also working on a criminal case in conjunction with the Manhattan DA.
They have not announced any indictments yet.
That is why right now Eric Trump and Donald Jr and
Ivanka are nervously tweeting, okay, [LAUGH] the real problem is his Mazars.
Yeah, well, we'll reveal that the real problem is the prosecutors,
the prosecutors are the problem.
>> I think that for a decade the Trump family was giving humble information.
Let's be real to Mazars, and then Mazars was lying about it and cheating.
I think that's probably what was happening.
>> Because masters thought you know what I just wanna help Donald Trump
even though he didn't ask for it, okay, by putting myself in legal jeopardy.
>> Or maybe not even help him, maybe like many,
they were taking advantage of humble trusting Donald Trump.
>> Poor Donald Trump.
>> But anyway look I think you are right that there is a possibility
of consequences, financial if not criminal.
In this case more than it past ones because there are already investigations
ongoing.
This is not a thing where we just have to hope that after five years Mueller will
actually move a little bit or something.
That said, there had been a lot of stories that we've sat at this desk and
cover that looks really, really bad for them and
he's still walking around golfing and interrupting people's dinners.
>> Yeah, so now John's right that so far it's civil.
They are doing the criminal investigation.
They have not announced anything about that yet.
So I'm gonna put out a percentage which is fun.
I now think Donald Trump has a 2% chance of being convicted.
Now why do I say 2%?
It should be based on these facts, if you put a random person that had no political
connections at all, I'd say the chance of conviction is about 80%.
Okay, when the full weight of the government comes down on you.
And New York, Attorney general in the Manhattan DAS office,
is looking into you, you're in a world of trouble, world of trouble, okay?
So they don't do those investigations, they don't risk their careers for
fun, right?
They only do it if they're absolutely positively sure doesn't mean they get
everything right.
But especially in high-profile cases like this,
they're usually honestly scared, right?
So to me the civil actions, I don't care.
I don't care about bankrupting, Donald Trump.
I care about the criminal actions, okay?
I don't know, I mean republicans might make him
president from jail, who knows, right?
I mean they love him no matter what they're like, he's a proven criminal and
he stole my money through taxes.
I love him even more, he's so savvy, right?
I wouldn't put it past them, right?
But I think it'll make a difference overall if he's put up on criminal
charges and especially if he's convicted.
But it requires courage to simply do your job and
here the way that they have laid it out in the civil cases is so overwhelming.
There's gonna be hard pressed not to file criminal charges because
it's clearly a crime.
>> Yeah, the only, the only fear I would say is that, look, you're saying the fact
that he would be in prison that might get through, it might also be jiu jitsu into,
he's a bigger martyr now they finally locked him up maybe.
And I disagree a little bit like I love the idea of them bankrupting, but
I also think it's impossible like he if he actually lost whatever money he has now.
He'd release an NFT of his hair or something and
there would be credulous Trump supporters that would give him a million dollars.
So it's probably impossible that said, I want to get your reaction to one more.
Again, a paragraph with a whole bunch of sort of vague language that we can
interpret into.
So they say Mazars said that it concluded that the statements were no longer
reliable based on a couple of different things and
I find all of these interesting.
So one is based in part on the attorney general's earlier filings,
its own investigations and
information the accountants received from internal and external sources.
So the Attorney general's earlier filings imply that the attorney general had
some sort of information.
That so directly contradicted things that had gone into the financial statements
they'd worked on that they could no longer stand by them.
Their own investigations which by the way they do not come out and
say anything specific based on that.
They say we haven't identified any material discrepancies except in your
investigations.
You found something that made you worried about your own thing.
So what does that even mean?
And then internal and external sources, presumably other than the AG's Team.
So internal sources means whether they have someone who is cooperating
with the AG.
Is there someone who's leaking information?
Somebody who testified that the valuations are wrong?
>> No, the external sources could be as simple as well.
You know Donald Trump said that his Trump Tower was worth two bucks when filing his
IRS forms and we believed him.
But we looked it up online on Zillow and
found out that it's actually worth you know a lot more than that.
And so and then we looked at our internal sources.
Yeah, it's not worth $2 because we filed another form that said that it was worth
$2 billion.
>> So you think internal two masters, not internal the Trump organization,
not an internal source, who knows that they've been cooking the books and
is participating in the AG's investigation.
My interpretation of those of that was internal to matters.
>> Okay?
>> Okay, and by the way, one of the CEO's son looks like
he's cooperating CEO of Donald of Trump org, okay not masters.
So they got the prosecutors seemed to have an inside person at least at that level
cooperating.
He apparently got a house also without paying taxes, etc.
So that's how they got him and they flipped him, etc.
Guys, the minute you see Allen Weisser Berg has flipped, he hasn't flipped yet.
He's the chief financial officer.
He's the one that kept all the books for trump.
If he flips then trump is actually in trouble.
Okay, now that hasn't happened yet.
So I don't even know if the DAS are going to gather up the courage to prosecute on
something that is super straightforward.
And now he's totally in the public record and
his accounting Trump's accounting office and said, yeah, we're totally lying.
Okay, he was lying, we were lying, everybody was lying.
Okay, I'm sorry we made mistakes according to internal and external sources.
Okay, [LAUGH] according to everybody.
Okay, so last thing is the third layer of financial crimes would be the most
devastating, but right now there's not nearly enough information on it.
So that's my theories, that I'm not the only one that has these theories,
but I'm clarifying for you guys, that is not part of this story.
Is the money laundering that Donald Trump might have done for the Russians and
the connections that he had to Russian oligarchs to Deutsche Bank.
That stuff has been investigated in the past.
And that would be a completely different layer of financial crimes cuz it would
connect him to a foreign government and have his financial interest tied to that.
Now, I have speculated about that on the show because of information and
evidence that is out in the public, right?
So like his two dumbass sun's going,
we got all our money from the Russians, [LAUGH] right?
Like, nobody would lend them any more money after the six bankruptcies, and
they just sons get asked on two different occasions about that and they go, yeah,
there's no problem.
The idiot Eric Trump was like, it turns out the Russians love golf,
that's why they give us so much money for the golf courses.
Okay, now there's other evidence that's in public, that's not the only thing.
But right now there's no information about that, by the way, one of the reasons I
love this story is because if all the information actually becomes public,
maybe we'll get to find out.
Did he do it, or did he not do it in regards to Russians and the oligarchs and
the Deutsche Bank, cuz it might turn out that he didn't?
And then I'll come out and say, it turns out I was worried about that,
but they really did an analysis of it.
And it turns out he wasn't doing money laundering.
I'll tell you that right away if that's what the information reveals, right?
But so far the jury is not even in, so that it can't even go out.
Not yet, so we don't know yet about that.
But the second layer is plenty good enough to convict any regular person.
Now that we're gonna see how much political clout Trump has to avoid these
actual criminal charges.
>> He's rich, so probably a lot.
>> He's rich, he has 40% of the country that will believe anything he says,
so that's a lot of power.
>> Yeah. >> And and
now it's gonna do battle with the law.
>> Yeah. >> Okay, we got to take a quick break,
guys, when we come back, we've got so much more for
you guys, including the right-wing media outlets lies as we told you.
And then an outrageous case where it turns out,
police departments are using evidence collected
from rape victims against the victim, unbelievable