Expert: Trump's financial desperation 'explodes the national security risk by a factor of 10'
President Donald J. Trump displays his signature on a proclamation making the month of May Older Americans Month, during the America’s Seniors event Thursday, April 30, 2020, in the East Room of the White House. (Official White House Photo by Tia Dufour)

Donald Trump is facing financial peril after his accounting firm, Mazars, broke up with him and cast doubt on a decade of financial reports the firm had created for the Trump Organization.

Trump's financial desperation has created a national security risk, The Daily Beast reported Wednesday.

Despite Trump's reassurances that Mazars is not a problem for his family business, the developments haven't "stopped members of his inner sanctum from wondering if the highly publicized investigations in New York could actually be what ultimately torches the ex-president’s sprawling family business."

The BEAST interviewed Miami attorney Steven J. Solomon for information on the dynamics.

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“It’s incredibly significant. And frankly, I’ve never heard of a situation where an accounting firm is going back retroactively 10 years,” he told The Beast.

Joseph Cirincione, a fellow at the Quincy Institute for Responsible Statecraft, warned Mazars' decision will scare off legitimate accounting firms and banks from working with the former president.

“This explodes the national security risk by a factor of 10, because now he's going to be desperate for new loans. Legitimate banks are not going to touch him. So it expands the universe of shady characters who could offer him loans in return for favors that might include disclosing U.S. national security secrets,” Cirincione said. “Whether it is the Saudis, Russians, narcoterrorists—anybody with access to hundreds of millions would be in the running for Donald Trump’s new loan officer."

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“That is why you don’t give security clearance to people who are financially compromised," he explained.

Read the full report.

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