"One thing I know a lot about is the legal definition of fraud," Justice Arthur Engeron said as he gaveled court into session prior to the start of opening statements.

Engoron opened the proceedings after allowing cameras in to document the scene in the courtroom: Trump, arms folded, flanked by his legal team; Engeron on the bench; and throngs of reporters and spectators in the gallery.

"I've promised to do my best despite my lame attempts at humor," Engeron said in a brief opening statement. "I take my job very seriously."

The trial is expected to last through Dec. 22, Engeron said, and suggested he would attempt to keep a low profile after today.

"For the next three months, I hope the only words I will mutter are 'Sustained,' 'Overruled,' and 'Let's take a 10-minute break,'" he said.

Opening statements are underway in former President Trump's $250 million fraud trial.

Trump is seated between his attorneys Clifford Robert, Alina Habba and Christopher Kise.

Trump and his co-defendants face a bench trial, meaning that the sole arbiter of the case is Judge Arthur Engoron instead of a jury.

Former President Trump has taken a seat in the courtroom for the start of the trial.

"The crime is against me," he told reporters outside the courtroom before he made his way inside.

He denounced the case in now-familiar terms, criticizing state Attorney General Letitia James as she sat inside the courtroom.

Trump also accused Judge Arthur Engoron of failing to account for the full value of his real estate portfolio, asserting his Mar-a-Lago estate is worth "50 to 100 times more" than the judge's decision for partial summary judgment said last week.

"We have other properties, the same thing. So he devalued everything," Trump said. "We have among the greatest properties in the world. and I have to go through this for political reasons."

Engoron decided Trump's statements of financial condition were fraudulent, but Trump said, "We have a clause in the contract that says, essentially, buyer beware."

Former President Trump, speaking to reporters on his arrival at the lower Manhattan courthouse, said the trial is a witch hunt resulting from his standing in the presidential polls.

"This is a continuation of the greatest political witch hunt of all time," he told reporters outside the courtroom.

Trump said he is innocent of the accusations and that his portfolio has a much higher value than what the attorney general alleges.

Former president Donald Trump and his company bid $1 billion in 2014 in an attempt to purchase the Buffalo Bills football team.

The only problem was that Trump needed a bank to help finance his bid.

Former Deutsche Bank executive Nicholas Haigh testified that when Trump turned to his bank for help, bank executives declined, fearing it would increase their financial exposure to Trump.

"Deutsche Bank was not willing to increase its credit exposure to Donald Trump at that time," Haigh said.

But the bank was still willing to help Trump by sending a letter to support his bid, according to Haigh -- on the condition that Trump Organization controller Jeffrey McConney certify that the company was still in compliance with the covenants of the three outstanding loans the bank had given Trump.

McConney verified that Trump had over $300 million in liquid assets in 2014, and that it suffered no material decrease in the value of his illiquid assets, according to a document entered into evidence today.

With that verification, Deutsche Bank issued a letter that Trump had the "financial wherewithal" to fund his bid.

Trump's effort to purchase the Bills was ultimately unsuccessful.