Mazars letter 'amounts to a declaration' that Trump 'repeatedly misled' them about finances: legal expert
President Donald Trump responds to a question about Jussie Smollett (Screen cap).

The longtime accounting firm for the Trump Organization on Monday announced that it was severing ties with the former president's company, while also stating that it no longer believes it can vouch for the company's financial statements.

Attorney Luppe Luppen has written up an analysis of the Mazars letter, and he believes that Mazars is indicating it believes that the Trump Organization engaged in financial fraud.

"The determination by Mazars that Trump’s financial statements over a full decade are not reliable through no fault of its own amounts to a declaration that it has been repeatedly misled by its client," he writes.

READ MORE: Trump Org's longtime accountants sever ties and warn ex-president's financial statements can't be trusted

Luppen also notes that suddenness of the decision shows that Mazars believed it had to act with haste to sever ties from Trump.

"Mazars informed Garten that it wouldn’t be able to complete some tax returns on behalf of the former president and his wife that are due tomorrow," he explains. "According to the date on the letter, February 9, it only gave the Trumps six days to find substitute accountants to finish the job on time."

And finally, Luppen draws attention to a curious detail in the Mazars letter that explain why it has taken so long to make its decision to sever ties.

"Mazars chalked up the delay in preparing these returns... to some unspecified information about what it called 'the Matt Calimari Jr. apartment' that it had been asking for over a period of months and had never received," he writes. "The Trump Org’s security chief is Matthew Calimari, and he and his son reportedly oversee the vast surveillance apparatus at the former president’s commercial properties."

Read the whole analysis here.

IN RELATED NEWS: Trump's longtime accountants sever ties/ warn ex-president's financial statements can't be trusted

Trump's longtime accountants sever ties/ warn ex-president's financial statements can't be trusted