Trump civil fraud case: Judge fines Trump $354M, says frauds 'shock the conscience'

Former President Trump took swipes at the attorney general and the judge overseeing his case during a break, calling the trial a "disgrace," and saying that he will return over the course of proceedings.

"I'll be seeing a lot of you," he told reporters, "because this is a horrible thing that's happening to this country."

He again claimed the civil lawsuit brought by AG Letitia James -- as well as the litany of other cases he faces -- are politically motivated.

"If I weren't leading in all the polls, or if I weren't running, I wouldn't have any of these cases," Trump said.

An attorney for Donald Trump's adult sons, Eric Trump and Donald Trump Jr., added a brief opening statement of his own, defending his clients from accusations of wrongdoing.

"There was never a material misrepresentation made by Eric Trump or Donald Trump Jr.," said Clifford Robert, the attorney for Trump's adult sons, who help run the Trump Organization.

Robert said he disagrees "with just about everything" the state's prosecutor said in his opening remarks, and took aim at the state's star witness.

"Their major linchpin is Michael Cohen, a guy who lies to everyone," Robert said of the former Trump attorney.

Attorney General Letitia James "is setting a very dangerous precedent for any business in the state of New York," warned Trump attorney Alina Habba in her opening statement.

Habba told the court she hadn't planned to make opening remarks, but that she felt moved to speak after hearing the state present its own opening statement. Habba accused the attorney general of targeting Trump before taking office, claiming the investigation and lawsuit were personal in nature.

"We are attacking a sitting president and two of his children and his employees for a statement of financial condition which is frankly worth less than what they are worth," Habba said.

Habba reiterated many of the points made earlier by co-counsel Christopher Kise, highlighting the fact that "these lenders made money," and arguing that "real estate is malleable -- the values change."

After Habba concluded her remarks, Judge Engeron engaged her in a series of follow-up questions, asking about her claim that the property appraisals at issue were "undervalued" by prosecutors.

Habba replied that "the Trump brand is worth something."

Former President Trump's defense counsel will present a "very different picture of the evidence" than the prosecution alleges, and will demonstrate that "there are many ways to value assets," according to opening remarks from Christopher Kise, Trump's lead attorney.

"We think the evidence is going to establish … President Trump has made billions of dollars building one of the most successful real estate empires in the world," Kise said, reiterating sentiments he conveyed in pretrial motions.

Kise offered a glimpse into the former president's defense, including plans to present testimony from a New York University professor who will explain that "there is no one generally accepted procedure to determine the estimated current value" of a property.

Other defense witnesses, including four Deutsche Bank officers who were involved in approving Trump's loans, will explain how they were able to craft their own independent risk analyses meant to mitigate the claims of fraud that are core to the state's case.

"Anyone committing fraud does not tell the other side, 'Please do your own analysis,'" Kise said regarding Trump's instructions to lenders.

Kise also previewed plans to undermine the state's key witness, former Trump attorney Michael Cohen, who Kise said has "lied to everyone and anyone he has come in contact with."

Kise reiterated the defense's claim that Trump did not commit fraud and that there were no victims of his alleged conduct.

"The attorney general has no case," Kise said.