"It's a paper case," defense attorney Todd Blanche says. "This case is not about an encounter with Stormy Daniels 18 years ago. An encounter that President Trump has unequivocally and repeatedly denied ever occurred. It's not even about a settlement in 2016," Blanche said.

"The bookings were accurate. And there was absolutely no intent to defraud," he said. "And beyond that, there was no conspiracy to influence the 2016 election."

Starting a PowerPoint showing the evidence, Blanche quickly seeks to made the case a referendum on the credibility of Michael Cohen, telling jurors he lied on the witness stand.

"You cannot convict President Trump of any crime beyond a reasonable doubt on the words of Michael Cohen," Blanche said.

"He told you a number of things on that witness stand that were lies, pure and simple," Blanche continued.

"The words that Michael Cohen said to you on that stand -- they matter. He took an oath, he swore to tell the truth, and he told you a number of things on that witness stand that were lies, pure and simple," Blanche said.

"I'm going to start with something I can say i think with confidence … which is just to thank you. To thank you for your jury service," defense attorney Todd Blanche told jurors to begin his closing argument.

"Each of you will decide ... whether President Trump is guilty or not guilty," he said.

All eyes in this courtroom are on Blanche. Every member of Trump's family is looking at him. The jurors are staring at him, many with pens in their hands ready to take notes.

"President Trump is innocent," Blanche said. "He did not commit any crimes, and the district attorney has not met their burden of proof. Period."

Defense counsel Todd Blanche says he has a 2.5-hour closing, "maybe a little longer."

Prosecutors say they estimate they have a 4 or 4.5-hour closing.

“Defense counsel must come up first, and the prosecutor must follow,” Judge Merchan said.

Merchan says he will ask the jury if they will work later than 4:30 p.m. to do all the closings in one day.

Judge Juan Merchan has taken his seat at the bench.

"Good morning, counsel. Good morning, Mr. Trump," Merchan said in his normal greeting to start the proceedings.

Prosecutor Josh Steinglass returned to the defense's argument that Trump "grossing up" the Cohen reimbursement -- effectively doubling the payment to account for the taxes Cohen would have to pay -- suggests the payment is suspicious for the famously frugal Trump.

"But it was worth it -- it was worth it to hide the truth about what this money was really for -- a reimbursement for the Daniels payoff," Steinglass said.

Steinglass was basically giggling to the jury as he tried to poke holes in the defense theory about the payments were legitimate expenses for legal work.

"These documents are so damning that you almost have to laugh at how Mr. Blanche explained it to you," Steinglass said.

Calling the documents "smoking guns," Steinglass said "they completely blow out of the water the defense claim."

"I'm almost speechless that they're still trying to make this argument that the it was for services rendered," Steinglass said of the payment.