2/ Trump has arrived at the court.

Orden: Barbara Underwood, the Solicitor General of New York who was previously NY AG, is in the courtroom for Trump's testimony.

4/ Via Kyle Griffin:

🔥New York AG #LetitiaJames: "This morning, Mr. Trump will take the stand in our trial against him, the Trump org & other defendants. Mr. Trump has repeatedly & consistently misrepresented & inflated the value of his assets. & before he takes the stand, I am certain that he will engage in name calling & taunts & race baiting & call this a witch hunt. But at the end of the day, the only thing that matters are the facts and the numbers — & numbers, my friends, don't lie."👈🏼

6/ NOTE: Emojis are mine, and when I comment I […], or say Me: “…”

I’ll include Rubin’s posts later.

Klasfeld:

“All rise."

Court is now in session.

Justice Engoron alludes to the photographers, who are about to come in to photograph Trump and counsel at the defense table.

Adam Klasfeld
@KlasfeldReports
Note:

This will be the second time that Trump takes the stand in this trial.

The first time, Justice Engoron found him "not credible" — and in violation of his gag order.

7/ “Saunters.”🤢

Klasfeld:

Engoron remarked that they're often referred to as a "gaggle" of photojournalist, a word usually used to describe "geese," he notes.

NYAG's counsel Kevin Wallace:

"The People call Donald J. Trump."

The former president saunters to the witness stand.

8/ Buckle up.

Klasfeld:

Wallace's questioning begins with Trump's corporate structure and his personal beneficial ownership of it.

Asked whether he formed the Donald J. Trump Revocable Trust when he ran for president in 2016, Trump said: "Pretty much when I won, I formed the trust."

11/ And now my stupid iPad won’t let me “return” to space between posting. Gaaa! So forgive the format for now. Need to add this: 🤢 Klasfeld: Trump complains to the AG's counsel that "you" and other "Democrat" prosecutors "were all coming after me from 15 different sides."

Trump says all of the cases are "not good."

"Weaponization, they call it," Trump says.

12/ Rubin:

Trump confirms he is owner of all assets in the Trust & the beneficiary thereof; he says around the time he won, he moved the Trump Org into the trust to avoid conflicts of interest, although he maintains that he could have had two desks as Washington did. 3/

He made Weisselberg a trustee because he had been with the company for a long time; he did a good job; and we really liked him. As for Don Jr., he was named as a trustee because he is a “good boy, or man and an honorable one.”

14/ Cohen’s lawyer is there.

Klasfeld:
Note:

Justice Engoron rejected Trump's "worthless clause" defense in his pre-trial ruling.

Trump launches into a monologue.

"As this crazy trial goes along" Trump says the defense will call bankers and "they were explain what the process is."

The judge interjects, notes that AG's counsel has been "patient," and instructs Trump to answer only the questions presented to him.

14/ Orden:

⚡️Judge Engoron to Trump: "Please, just answer the questions, no speeches."

Judge added: "Some of your answers have not been responsive to the question."

15/ Klasfeld for next few posts:

I forgot this:

Trump is shown his statement of financial condition from June 30, 2011 — and downplays its significance.

Pointing to disclaimer, Trump said. "We would call it a worthless statement clause."

"They were not really documents that the banks paid much attention to”
………
Trump swipes at Engoron from witness stand, going off on a tangent about the statute of limitations:

“I’m sure the judge will rule against me because he always rules against me.”

16/ Engoron asks Chris Kise if that was necessary, before telling Trump:

"You can attack me, do whatever you want, but answer the question."

Trump insists that his marquee properties were "underestimated," like Mar-a-Lago, 40 Wall Street, Doral and others.

Trump falsely claims that the judge estimated Mar-a-Lago was worth $18 million. (Engoron didn't; he cited an appraisal of the property from 2011.)

18/ Klasfeld:

Trump caricatures the AG's case:

"Trump had no money. And he wrote up phony statements, and he defrauded banks," even though they were represented by the best lawyers.

Wallace: I move to strike that answer.
Granted.

👉🏼👉🏼Judge: "Mr. Kise, can you control your client? This is not a political rally."👈🏼

Kise eventually tells him: "You're in control of the courtroom, not me."😳

19/ Rubin:

Engoron: “Mr. Kise, can you control your client? This is not a political rally…Maybe you should have a talk w him right now.” Kise disagrees and says it would be far more economical to let the “former and future chief executive of the United States” to give his answers.

Trump says he does not recall discussing the valuation of Mar-a-Lago w McConney & Weisselberg; did not discuss 40 Wall St much w them; insists outside tax counsel Sherri Dillon drive valuation process for 7 Springs

20/ Rubin for next few:

But the statement overall, he maintains, was a “nice compilation of assets” and reflected that he had $342 million in cash. 👉🏼Engoron is angry and without any objection, shouts, “Stricken! Stricken!”👈🏼

Kise faults Wallace for his open-ended, wide questions, suggesting they are inappropriate for trial, as opposed to at a deposition. Wallace is frustrated, but moves on.

21/ We’re now looking at the description of Niketown’s value in the 2014 statements of financial condition, which is, according to the statement, based on an evaluation by Trump in conjunction with his associates and outside professionals.

Asked whether he agrees with the statement, Trump does not take issue with the description of his involvement; he disputes that the value was $348 million as of June 30, 2014, given the location of the asset (between Tiffany and IBM).

22/ Wallace tries to pin Trump down: Has there been a change of value since 2014? Trump says it’s a “holdup asset,” and its real value is for Tiffany or IBM to purchase.

(The statement says the value was derived from the cash flow derived from the net rental stream, not its sale value to the potential purchasers.)