Trump fraud trial live updates: Former president testifies in New York court

Trump is asked whether — in light of his expertise in real estate — he thought the values were off for any properties in those statements.

“Yeah. Both high and low.”

He cites the low: Mar-a-Lago, 40 Wall Street and Doral, among them.

“The values are far bigger than what’s on the financial statements,” before going off on a rambling list of reasons why he thinks so.

“The question was what properties were undervalued or overvalued, not why you think so,” the judge says.

He interrupts the NYAG’s counsel to espouse about “brand value”.

The Trump brand value would add “tens of millions of dollars” to his net worth, he said.

“It’s an asset. Coca-Cola includes it. … I became president because of my brand value. I sell books at levels that are incredible,” he continued.

Judge Engoron interrupts again, asking counsel: “Did you ask for an essay on brand value?”

The judge and the NYAG’s office are really trying to get him to answer simple questions without speeches.

Trump is asked about the 2014 statement of financial condition.

“First of all, that was so long ago, well beyond the statute of limitations,” he said. “I’m sure the judge will rule against me, he always rules against me.”

Judge Engoron, to Kise, referencing his earlier objection: “Is that comment a necessary part of the ‘narrative’?”

Kise asked to give, “according to The New York Times this morning, the future president, a little latitude to explain himself.”

“You can attack me, you can do whatever you want, just answer the question,” the judge replied.

Here, Judge Engoron interrupts.

“I would like to move things along a little faster. Please, answer the questions, no speeches,” he said. “Some of your answers are not in response to a question.”

Trump attorney Christopher Kise objects.

Judge Engoron says: “Please, let’s just continue.”

Trump was asked about the statements of financial condition — the documents that are very much at the heart of the case which showed inflated valuations of assets and his own net worth: “They were just something you would have for yourself if you were borrowing money … They were not really documents that the banks paid much attention to … They looked at the deal. … They were not that important.”

“They just weren’t a very important element in the banks’ decision-making process. And we’ll explain that as the trial goes along. Crazy trial, as it goes along.”

He said his defence will offer up bankers to “explain.”

“These are very substantial bankers,” he says.

Asked why he appointed them to run the trust while he was in the White House, Trump criticised “Democratic district attorneys, AG and US attorneys were coming after me.”

“All Democrats, all Trump haters … weaponisation, we call it,” he said. “[Donald Jr] would be running the business with Eric and I had good confidence in them.”

Asked to clarify if the trust was to avoid investigations, he said: “I think moreso the fact I was in politics.”