New York Attorney General Letitia James’ office is investigating whether Trump had used financial statements prepared by Mazars to defraud lenders into providing him the best possible loan terms.
"We have come to this conclusion based, in part, upon the filings made by the New York Attorney General," Mazars said in a copy of the letter that was shared on Twitter on Monday. "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."
As evidence to her investigation, James made a court filing on Monday that included a copy of the Mazars letter, as she pressed ahead with attempts to question Trump and his son Donald Trump Jr. and daughter Ivanka Trump.
Trump’s lawyers have asked a judge to prohibit James’ investigation. But the attorney general’s office has argued that the Trump Organization, which represents the former president’s private and family businesses, had engaged in "fraudulent or misleading" practices.
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The New York Times said the Mazars letter could bolster James’ investigation, which focuses on whether the statements made by the accounting firm helped overvalue the various hotels, golf clubs and other properties under the Trump Organization.
Republican Trump came to power in the November 2016 US election after beating Democrat Hillary Clinton, campaigning as an independent businessman who would reshape politics in Washington. He left office in January 2021 after losing to another Democrat candidate, Joe Biden, in the previous year’s election. He has indicated that he will run again in the 2024 election.