Michael Cohen begins testimony against Trump in fraud trial: Highlights

Habba homed in on Cohen's earlier denial of some of the charges he pleaded guilty to in federal court in 2018, and asked if he lied to the judge in that case, William Pauley.

"Correct," Cohen said.

She then pushed him on whether he lied under oath to Congress, one of the crimes Cohen pleaded guilty to. He acknowledged he had.

“Unlike your other plea hearing, you’re being honest with the judge this time, is that correct?” she asked. “Yes, that is correct,” Cohen said.

Habba asked if she was supposed to believe Cohen wouldn't lie to her now and Cohen, a disbarred lawyer, said, "I object."

Court is over for today. The judge tells Cohen not to talk to anybody about the trial or testimony.

Trump, who at times has not turned in Cohen's direction, looked over at his former lawyer as Habba grilled Cohen about the crimes he pleaded guilty to in 2018 — an exchange that quickly got nasty.

Habba was having some issues with her microphone but continued her questioning through loud feedback, which at one point had Cohen moving back in his seat.

Habba asked if he ever told his wife he was committing tax evasion, which Cohen objected to. Kise called Cohen "a serial liar" and told the judge, "This witness is completely out of control."

Cohen is being cross-examined by Trump lawyer Alina Habba.

Habba noted that they've met a few times before and asks if she should refer to him as Michael or Mr. Cohen.

"I think Mr. Cohen today," he said to chuckles from the audience.

A frustrated Chris Kise mocked the AG's continued questioning about Trump's failed attempt to buy the Bills, telling the judge his client "had the financial wherewithal to buy more than one NFL team!"

"He had the financial capability to complete the transaction to buy the team and potentially more than one," the Trump lawyer said, complaining about the AG's "theoretical" line of questioning. 

Cohen testified about a letter from Trump bidding $1 billion for the team, where Trump wrote, "I have a net worth in excess of Eight Billion Dollars (financial statements to be provided upon request)." 

Cohen was asked numerous questions about Trump's failed attempt to buy the Buffalo Bills a decade ago.

He said Trump needed to secure a loan and show he had the financial wherewithal to own the team, and used the inflated financial statements to help improve his chances.

Trump lawyer Chris Kise objected, telling the judge Cohen isn't an expert on NFL acquisitions and later questioning "why we are talking about the Buffalo Bills."

The attempted purchase of the team came in the time period that an appeals court said is outside the statute of limitations for the claims in the case. The AG’s office said it intends to prove that Trump Organization officials mispresented their assets in their attempt to buy the team.

The judge said he wasn't sure the evidence is relevant, but allowed the line of questioning to continue before the midafternoon break.

Trump, who'd been sitting up straight while Cohen testified that the former president directed his assets be inflated, leaned his head on his hand as Cohen talked about the "gang of four" Trump employees he was part of.

The four, Cohen and Trump Org. executives Matt Calamari, Ron Lieberman and Allen Weisselberg, were tasked with reviewing the Trump insurance program, insurance policy buying decisions, and risk projection.

Cohen said when they met with insurance companies, they'd present them the inflated Trump financial statements.

Cohen testified that Trump's three oldest children — Donald Trump Jr., Ivanka Trump and Eric Trump — assisted with his financial statements by giving information about projects they were involved with.

All three were executives at the Trump Organization at the time. Ivanka Trump resigned from the company when she went to work in the White House.

Eric Trump, who is seated in the front row of the gallery and has attended much of the trial, repeatedly shook his head in disgust during Cohen’s testimony about him and his siblings.

After retaking the witness stand following the lunch break, Cohen said Trump directed him and Weisselberg to greatly inflate his assets.

He said when they'd show Trump his financial statements, "he would look at the total assets and say, 'I’m actually not worth $4.5 billion. I am really worth more like $6 billion.'"

"He would ask Allen and I to go back to the office and return with the desired goal," Cohen said.

Trump sat up during this part of the testimony but did not appear to look over at Cohen.