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EXPLAINER: How Trump testifying about his business hurts him

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Earlier this month, Trump's longtime accounting firm cut ties with him, saying that a decade's worth of financial statements they'd prepared for his company, using information Trump and his people provided, were no longer reliable.

A grand jury has been hearing testimony and reviewing documents covering much of the same subject material as James' civil probe.A deposition is like an interview, usually held in a law office or conference room, except witnesses must swear an oath and could be subject to penalties if they commit perjury. They're typically recorded.

Some Trump Organization executives have already given depositions in James' investigation, including the former president's son, Eric Trump, and the company's chief financial officer, Allen Weisselberg. Trump Jr. and Ivanka Trump have also been executives in the family's business.There are some similarities, but in New York, anyone who testifies before a grand jury automatically gets immunity from prosecution for any crimes they discuss.

He could get further embarrassed if he refuses to answer questions on the grounds that it might incriminate him. Some people will assume — perhaps wrongly — that it means he's guilty.

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