A Manhattan jury has found former President Donald Trump guilty on all 34 counts of falsifying business records. This verdict marks the first time in U.S. history that a president or ex-president has been convicted of a felony.
The case against Trump stemmed from allegations that he participated in an illegal conspiracy to undermine the integrity of the 2016 election. Prosecutors accused Trump of orchestrating an unlawful plan to suppress negative information, which included concealing a hush money payment to an adult film star, Stormy Daniels, to influence the election outcome.
During the trial, the prosecution presented evidence showing that Trump had falsified business records to hide the hush money payment, a move they argued was intended to prevent damaging information from surfacing during his presidential campaign. The jury found the evidence compelling, leading to the conviction on all 34 counts.
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Trump’s Reaction
Following the verdict, Trump vehemently denounced the trial, labeling it a “disgrace” and “rigged.” Speaking to reporters outside the courtroom, he alleged political bias and manipulation by the Biden administration.
“Our whole country is being rigged right now,” Trump declared. “This was done by the Biden administration in order to wound or hurt an opponent, a political opponent.”
Despite his strong objections, Judge Juan Merchan denied Trump’s motion for an acquittal and scheduled a sentencing hearing for July 11.
Political Reactions
The conviction has sparked intense reactions across the political spectrum. House Speaker Mike Johnson condemned the verdict, calling it “a shameful day in American history.” He accused the justice system of being weaponized for political purposes, describing the trial as “a purely political exercise, not a legal one.”
“The American people see this as lawfare, and they know it is wrong—and dangerous,” Johnson stated. “President Trump will rightfully appeal this absurd verdict—and he WILL WIN!”
President Joe Biden responded to the verdict by emphasizing the importance of democratic processes. He asserted that the only way to defeat Trump is through the ballot box.
“There’s only one way to keep Donald Trump out of the Oval Office: At the ballot box,” Biden tweeted, linking to a fundraising page.
Biden’s campaign issued a statement reinforcing the message that “no one is above the law.”
“Donald Trump has always mistakenly believed he would never face consequences for breaking the law for his own personal gain. But today’s verdict does not change the fact that the American people face a simple reality. There is still only one way to keep Donald Trump out of the Oval Office: at the ballot box,” Michael Tyler, Biden 2024 campaign communications director, wrote.
“The threat Trump poses to our democracy has never been greater. A second Trump term means chaos, ripping away Americans’ freedoms and fomenting political violence — and the American people will reject it this November.”
Trump’s Legal and Political Future
Despite his conviction, Trump remains eligible to run for office again. The U.S. Constitution sets three requirements for presidential candidates: they must be natural-born citizens, at least 35 years old, and U.S. residents for at least 14 years. Legal experts anticipate that Trump will appeal the verdict, a process that could extend into his potential campaign for the 2024 presidential election.
Trump’s legal troubles and the conviction are expected to significantly influence the political landscape as the election approaches. His supporters view the verdict as a politically motivated attack, while his opponents see it as a long-overdue reckoning for his alleged misconduct.
Background of the Case
The backdrop to this trial includes a series of legal battles and political controversies. The charges against Trump originated from his efforts to suppress information about an alleged affair with Stormy Daniels. The hush money payment, made just before the 2016 election, was intended to prevent her from publicly disclosing the affair, which could have damaged Trump’s campaign.
Throughout the investigation and trial, Trump maintained that he did nothing wrong, arguing that the payments were personal matters unrelated to his campaign. However, prosecutors successfully argued that the payments constituted illegal campaign contributions and that falsifying business records to conceal them was a felony.
Impact on Trump Media
The conviction has had immediate financial repercussions for Trump. Shares of Truth Social owner Trump Media & Technology Group (DJT) fell 9% in after-hours trading following the news. The share price had been stable until the jury’s verdict was announced, after which it plummeted.
Trump Media’s valuation has been a topic of scrutiny, with experts noting that Truth Social remains a minor player in the social media landscape and generates very little revenue. Despite the selloff, Trump’s dominant stake of 114.75 million shares is still valued at $5.4 billion on paper.