Rick Gates: I committed bank and tax fraud at Paul Manafort's direction, embezzled 'several hundred thousand' dollars

Rick Gates, on the witness stand today in the trial of Paul Manafort, says he committed crimes with Manafort, and embezzled "hundreds of thousands" of dollars from Manafort.

"Did you commit crimes with Mr. Manafort?" the prosecutor asked.

"Yes," Gates responded.

Prosecution witness Gates, who is a former business partner of Manafort, testified that he joined Donald Trump's former campaign manager in committing bank fraud and tax crimes.

"Gates is admitting to everything," says NBC News' Ken Dilanian later, outside the courthouse.

Why would the prosecution begin by inviting Gates to confess to the crimes he's been charged with (and others)? They're establishing his credibility, and explaining the deal he's made–so the defense can't use any 'secrets' to impugn Gates' credibility as a witness.

He's expected to detail the crimes he committed with Manafort as the trial resumes tomorrow.