'This is a disaster for them': CNN's Gloria Borger says Mazars news puts Trump Organization in hot water
Donald Trump, Allen Weisselberg and Donald Trump Jr. (AFP)

On Tuesday's edition of CNN's "The Situation Room," political analyst Gloria Borger broke down the implications of the accounting firm Mazars USA cutting ties with the Trump Organization, and warning that past statements about the former president's finances are not reliable.

"No matter which way the Trump Organization tries to spin this, and they are trying, this is a disaster for them," said Borger. "Their longtime accountants have quit and said, the stuff we worked on for the last decade or so, forget it, we really can't vouch for it, it's based on our new position on information from internal and external sources."

She then said that this would not only hurt the Trump Organization from a legal perspective, but also from a business perspective.

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"Who will do business with a company whose accountant, longtime accountant, just quit on them because they couldn't verify certain information given to them by the client?" she asked. "They were saying, folks at the Trump Organization were lying to us."

The Trump Organization, for its part, continues to deny any wrongdoing, with Eric Trump publicly vowing to go after New York Attorney General Letitia James for the litigation that led Mazars to lose confidence in the business.

Watch below:

Gloria Borger says Trump Organization losing their accounting firm is a "disaster" for them www.youtube.com