Trump trial: 1st week of testimony ends with testimony from Michael Cohen's former banker
Banker Gary Farro testified in Donald Trump's hush money trial in New York.
Former President Donald Trump is on trial in New York City, where he is facing felony charges related to a 2016 hush money payment to adult film actress Stormy Daniels. It marks the first time in history that a former U.S. president has been tried on criminal charges.
Trump last April pleaded not guilty to a 34-count indictment charging him with falsifying business records to hide the reimbursement of a hush money payment his then-attorney Michael Cohen made to Daniels in order to boost his electoral prospects in the 2016 presidential election.
Top headlines:
- Banker says he set up LLC, which Cohen used to pay Daniels
- 'Thank you for handling' McDougal, Pecker says Trump told him
- 'This story is true,' Pecker recounts being told of Stormy Daniels
- Pecker describes $150,000 negotiations for McDougal's story
- Secret Service has plans if Trump is confined for contempt: Sources
What to know about the hush money case
READ MORE: Here's what you need to know about the historic case.
Trump arrives at courthouse
Former President Trump has arrived at the courthouse in lower Manhattan.
He stepped out of his motorcade, waved, and walked into the side entrance.
A small group of supporters and protesters both cheered and booed his arrival.
Trump en route to courthouse
Former President Trump is en route to the courthouse in lower Manhattan for this morning's proceedings.
The former president left for the the courthouse from Trump Tower in Midtown Manhattan.
Court may start with hearing on Trump testifying
Court this morning may start with a hearing over what prosecutors can ask Trump during cross-examination should he take the stand later in the trial.
The judge would hear arguments from both the people and the defense. The proceedings would then move into jury selection later in the morning.
Prosecutors have indicated they would want to cross-examine Trump on approximately "thirteen different court determinations," including the recent civil finding that he sexually abused columnist E. Jean Carroll, the criminal conviction of the Trump Organization last year, the finding that he committed a decade of business fraud, and the dissolution of his charity, according to sources familiar with the matter.
The hearing -- known as a Sandoval hearing -- is standard practice before jury selection and typically occurs when a defendant signals a willingness to testify.
In a filing last month, Trump's lawyers requested a Sandoval hearing to limit the scope of Trump's potential cross examination, if he opted to testify.
ABC News' Katherine Faulders contributed to this report.
Jury selection set to begin
Former President Trump will leave his Trump Tower apartment in Midtown Manhattan this morning and travel down to lower Manhattan for the first day of jury selection in his criminal hush money trial.
The proceedings come after Trump unsuccessfully tried three times last week to delay the start of the trial through the filing of appeals.
As a defendant in a criminal case, the former president will be required to be in court for the entire trial, which is expected to take six to eight weeks.
Pecker describes $150,000 negotiations for McDougal's story
With Donald Trump following along from the defense table, head cocked slightly to the side, David Pecker described the negotiations conducted with Karen McDougal to purchase the exclusive rights to her story about an alleged year-long relationship with Trump.
Pecker said that Trump's attorney Michael Cohen authorized negotiations to begin, then during those negotiations, "Michael was very agitated," constantly asking "Why is this taking so long?"
"To purchase the lifetime rights to Karen McDougal was going to cost $150,000. Plus Karen wanted to restart her career. She wanted to write for the celebrity magazines. She wanted to be on the cover of the life and fitness titles. She had a major problem when her breast implants were removed and she wanted to write about that," Pecker testified.
Pecker said he asked Cohen, "Who is going to reimburse me for this?" He said Cohen responded "Don't worry about it, I'm your friend the boss will take care of it.'"
When prosecutor Josh Steinglass asked Pecker who "the boss" was, Pecker answered "The boss would have been Donald Trump"
Prosecutors then displayed for the jury the contract with McDougal, dated August 5, 2016. It awarded AMI, the Enquirer's parent company, the rights to her story of a relationship she had "with any then-married man." Pecker said "she was referring to Donald Trump."
Pecker testified he needed to "validate" the amount of money AMI was going to pay, so the contract included other provisions, like having McDougal write monthly columns on aging and fitness.
"With respect to campaign laws, I wanted to have the contract be a record that stipulates the services she was going to perform for American Media had a basis for it, the $150,000," Pecker said.
"Was it your primary purpose to buy the life rights?" Steinglass asked. "Yes it was," Pecker responded.
"Were the other provisions to disguise the true nature of this contract?" Steinglass asked. "Yes," Pecker replied, letting out a sigh.