CBS News' Clare Hymes and Hannah Knowles contributed to this report.
The first week has wrapped up for former Trump campaign chairman Paul Manafort's fraud trial. Manafort is charged with four counts of bank fraud and five counts of conspiracy to commit bank fraud, among other things.
Earlier in the week,, the court heard testimony from four witnesses -- two vendors, Manafort's bookkeeper and the managing shareholder from the accounting firm he used to prepare his taxes, CBS News' Clare Hymes reports. Manafort's bookkeeper testified she was not aware of any foreign accounts that Manafort held and used to pay for millions in luxury purchases for himself.
- What you need to know about the Paul Manafort trial
- Day 1: Defense says Manafort trusted wrong person, Rick Gates
- Day 2: Manafort accused of amassing "secret income"
- Day 3: Manafort's bookkeeper didn't know about foreign accounts
Counsel for the government still feels confident they will be able to rest their case next week. The judge in the case, T.S. Ellis, has said that he doesn't think it will need to go longer than three weeks and would like it to wrap up in two. Manafort's trial is the first to stem from special counsel Robert Mueller's investigation into Russian election meddling and any ties to Trump associates.
Follow along below to catch up with the trial.
Trial concludes for the weekend
Manafort's trial has concluded for the weekend, after a rapidly paced first week of testimony.
Trial will resume next week in federal court in Alexandria at 1 p.m. Monday, and Laporta will return to the stand for cross-examination by Manafort's attorneys.
“I very much regret” signing off on fake loans, Manafort's accountant says
Cindy Laporta, who worked as Manafort's accountant, testified that she regretted signing off on allegedly fake loan applications for DMP International, Manafort's company.
Laporta, who received immunity for the perjury charges she could have faced by signing off on tax returns she knew to be false, testified Friday that she "prepared tax returns and spoke to banks based on information that Paul Manafort and Richard Gates gave to me."
CPA says Rick Gates adjusted loan so Manafort paid less in taxes
Cindy Laporta, a CPA and one of the five witnesses granted immunity for testimony against Manafort, testified that Manafort associate Rick Gates looked to change the amount of a loan so Manafort would pay less in taxes.
Laporta discussed loans from DMP International, Manafort's company, to groups represented to her firm KWC as clients, that were actually under Manafort's purview. The prosecution on Friday showed emails between Gates and KWC employees from 2015 in which he said he wanted to change the amount of a loan after he was provided a summary of a tax return.
"I will have to change the amount of the loan agreement," Gates says in one exchange.
A KWC employee agrees it can be changed, and the final amount of the loan is $900,000 -- Laporta says that's the amount selected because it would result in a tax bill that Manafort could afford. Classifying income as loans rather than as income, Laporta said, would allow Manafort to pay less in taxes. Laporta was given immunity because she could be charged with perjury.
Manafort's New York properties
This morning the government finished its questioning of Phil Ayliff, and when they return from lunch the defense will begin their cross examination of Manafort's former accountant.
Phil Ayliff, Manafort's former accountant went through four years of his individual and business tax returns, from 2010 to 2014, and he told the court he had repeatedly asked over the years about foreign transactions so that he could determine whether they involved taxable income. Among them was a $1 million dollar payment from a LOAV Advisors. The money came from a Deutsche Bank account through another account at Marfin Bank in Cyprus.
Ayliff testified about two apartments Manafort owned in New York and whether they were considered rentals or residences. Manafort could deduct expenses on a rental property, and any income would be taxable. Ayliff said Manafort's 29 Howard Street apartment was a listed as a personal property in 2014, but a rental in 2015. (According to Corcoran.com, it was listed for rental for $14,200 per month, and it has been rented). Manafort also told Ayliff in an email that a 5th Avenue apartment was a personal residence for him and his wife and had never been a rental property, but Ayliff said he had always understood that the apartment was a rental. Ayliff said that Rick Gates was not involved in any of these discussions.
Cindy Laporta, who took over Manafort's account in 2014 at KWC after Ayliff retired, will be testifying later today. She received immunity in exchange for testimony.
Manafort's tax returns don't show foreign accounts
Paul Manafort's trial continued at 9:30 am with further testimony from Philip Ayliff, the retired former managing principal of CPA firm Kositzka, Wicks and Company who took the stand Wednesday. The prosecution went through Manafort's business and individual tax returns for 2010 through 2014 to show that none of the tax returns reported Manafort's foreign financial accounts. Manafort and his associates did not disclose the accounts even when probed by KWC, as shown in email exchanges between Rick Gates and Ayliff.
The court is in recess until 11:25, when prosecutor Uzo Asonye expects to continue his questioning for another 30 minutes. Then Manafort's lawyer, Kevin Downing will cross examine Ayliff for about 45 minutes.