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.
Proceedings are underway
"All rise," the bailiff announced at 9:59 a.m. ET. "This is the People of the State of New York v. Donald J. Trump."
And with that, proceedings are underway.
Members of the prosecution and the defense, including the former president, stood briefly as Judge Juan Merchan entered the courtroom and took his seat on the bench.
Manhattan District Attorney Alvin Bragg entered the courtroom shortly before court went into session.
Trump calls trial 'assault on America'
Former President Trump arrived at the courtroom at 9:32 a.m. flanked by members of his legal team.
In brief remarks to reporters on the way in, he called his criminal trial an "assault on America."
"Nothing like this has ever happened before," Trump said, marking his first comments of the day as he becomes the first former American president to face criminal charges.
"There is no case," he said. "This is political persecution."
Trump also attacked President Joe Biden and said the case should not go forward.
Upon entering the courtroom, he sat at the defendant's table as his lawyers and court officers buzzed around him.
Members of DA's team arrive
Several members of the Manhattan district attorney’s office have arrived in the courtroom.
Proceedings are scheduled to begin at 9:30 a.m. ET.
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.
'The boss will be angry' if the deal is off, Pecker says he was told
Former National Enquirer publisher David Pecker described one of the most heated moments so far during the catch-and-kill arrangement between him, Donald Trump and Trump's then-attorney Michael Cohen.
When Cohen approached Pecker with a plan to reimburse the National Enquirer for buying the exclusive rights to Karen McDougal's story, the two men drew up paperwork in which Cohen would repay the Enquirer's parent company, AMI, through a shell company he created, Pecker said.
But Pecker testified that he had a change of heart after consulting with his general counsel.
"I called Michael Cohen and I said to him that the agreement we signed -- the deal was off. I am not going forward, it is a bad idea," Pecker testified. "I want you to rip up the agreement."
"He was very, very, angry. Very upset, screaming basically at me. And I said, I'm not going forward with this agreement, rip it up," Pecker said.
Pecker said Michael Cohen then brought up "the boss."
"And Michael Cohen said, the boss is going to be very angry with you. And I said, I'm sorry, I am not going forward. The deal is off," Pecker recounted. "And he said, I can't believe it. I'm a lawyer, I'm your friend. I don't understand why you're not going forward. I said I am not going forward. Period."
Pecker previously described at length that he was aware that the National Enquirer's payment to Karen McDougal in order to catch and kill her story for the benefit of Trump's campaign would amount to an illegal campaign contribution -- softening his tone when he testified to this.