51w ago / 10:18 AM EDT

Gary Farro says bank asks for purpose of transfer to ensure it knows what it's getting involved in

On the paperwork requesting the transfer of $130,000 to Keith Davidson's account, Michael Cohen wrote that the purpose was “Retainer,” which was itself a lie.

Gary Farro said the bank asks for that information to ensure that the bank is not involving itself in anything it doesn’t want to be involved in. 

51w ago / 10:17 AM EDT

Prosecutor walks through key acts in Cohen's deception of his bankers

Using documents she painstakingly authenticated and admitted through Farro on Friday, prosecutor Rebecca Mangold is walking through key acts in furtherance of the conspiracy: Cohen’s rushed opening of, funding of, and deception of his bankers at First Republic.

But for Cohen’s misrepresentations about the purpose of his LLC and his request that the bankers expedite the opening of the account, the transfer of funds from Cohen’s home equity line of credit to the account, and ultimately, the wire transfer to Davidson, he might not have paid Stormy Daniels in time to ensure her silence before Election Day.

Throughout Farro’s testimony this morning, the jurors have been following along with the email chains with the computer monitors in front of them, with some seen taking notes.

51w ago / 10:13 AM EDT

Cohen praises gag order decision

Jesse Rodriguez

Michael Cohen — who has been the target of much of Trump's criticism that was cited as gag order violations — praised the decision.

"The imposed fine is irrelevant. Judge Merchan’s decision elucidates that this behavior will not be tolerated and that no one is above the law," Cohen said in a statement.

51w ago / 10:02 AM EDT

Judge orders Trump to remove social media posts violating gag order by 2:15 p.m.

Judge Merchan ordered Trump to remove the posts from Truth Social that violated the gag order by 2:15 p.m. ET.

51w ago / 10:02 AM EDT

Trump gets to go to son's graduation, despite his earlier claims

Amanda TerkelPolitics Managing Editor

It's notable that the judge decided to allow Trump to attend Barron's graduation on May 17, since Trump and his campaign had earlier been claiming that the judge had barred him from doing so.

During the first week of trial, Trump told reporters: "My son is graduating high school, and it looks like the judge will not let me go to the graduation."

His campaign also sent out a text that read: "THEY ARE FORCING ME TO SKIP MY SON’S GRADUATION. I’LL BE IN COURT."

That text was wrong. The judge had not yet made a decision.

51w ago / 10:01 AM EDT

Farro says process would be different for payments to an adult film star

Adam Reiss and Summer Concepcion

Assistant District Attorney Rebecca Mangold asked Farro whether the bank’s process for opening the account would be different if Cohen had indicated he was paying an adult film star.

Farro replied, “Yes, we would certainly ask additional questions."

Asked whether there was anything indicating that the account was made for paying an adult film star, Farro denied that was the case and that more questions would’ve been asked if he had known.

51w ago / 9:56 AM EDT

Trump says Time cover story ‘60% correct,’ compares Columbia protests to Jan . 6 riot

Speaking to reporters outside of the courtroom, Trump touted his new exclusive interview with Time magazine, in which he discussed his agenda if he wins a second term in office, saying that the story is “at least 60% correct.”

The presumptive Republican presidential nominee also criticized the ongoing pro-Palestinian protests on college campuses nationwide, describing them as “Biden protests” in colleges that are “overrun.”

Trump argued that the 2017 Charlottesville “Unite the Right Rally,” which Biden has said is what led him to launch his presidential campaign, is “peanuts” compared to the protests happening at college campuses across the country.

51w ago / 9:51 AM EDT

Gary Farro back on the stand

Adam Reiss
Adam Reiss and Rebecca Shabad

Gary Farro, the banker that worked with Michael Cohen, is back on the stand.

51w ago / 9:50 AM EDT

Merchan threatens Trump with jail for further gag order violations

Gary GrumbachGary Grumbach is a NBC News Legal Affairs Reporter, based in Washington, D.C.

Merchan, in his decision finding that Trump had violated his gag order, wrote that he understands a $1,000 fine is unlikely to make much of a difference for someone with wealth, but that he cannot levy a larger fine.

"Because this Court is not cloaked with such discretion, it must therefore consider whether in some instances, jail may be a necessary punishment," Merchan wrote.

“Defendant is hereby warned that the Court will not tolerate continued willful violations of its lawful orders and that if necessary and appropriate under the circumstances, it will impose an incarceratory punishment."

51w ago / 9:46 AM EDT

Judge grants Trump permission to attend son's HS graduation

Adam Reiss
Adam Reiss and Kyla Guilfoil

Merchan began proceedings Friday by addressing Trump's request at the beginning of the trial that he be able to attend his son Barron's high school graduation on May 17.

“I don’t think the May 17th date is a problem. So Mr. Trump can certainly attend that date. Attend his son’s graduation," Merchan said.