Quiver Quantitative - Donald Trump became the first U.S. president to be convicted of a crime on Thursday when a New York jury found him guilty of falsifying documents to cover up a payment to silence a porn star ahead of the 2016 election. The 12-member jury announced it had found Trump guilty on all 34 counts after two days of deliberations. The verdict places the U.S. in unprecedented territory ahead of the Nov. 5 presidential election, where Trump, the Republican candidate, will attempt to reclaim the White House from Democratic President Joe Biden.
Trump has denied wrongdoing and plans to appeal. The maximum sentence for his conviction is four years in prison, though he could receive a shorter sentence, fines, or probation. Despite the conviction, Trump remains eligible to campaign and take office if elected. Opinion polls indicate a tight race between Trump and Biden, with the guilty verdict potentially affecting Trump's support among independent and Republican voters.
Market Overview:
- Trump found guilty on all 34 counts of falsifying documents.
- The conviction marks the first time a U.S. president has been convicted of a crime.
- Trump faces a maximum sentence of four years in prison but will not be jailed ahead of sentencing.
- The jury's unanimous decision came after a five-week trial featuring explicit testimony from porn star Stormy Daniels.
- Trump's appeal is likely to focus on Daniels' testimony and the legal theory used by prosecutors.
- The case is considered the least consequential of the four criminal prosecutions Trump faces.
- Trump remains eligible to campaign and take office if elected despite the conviction.
- The verdict may prompt Trump to intensify deliberations on picking a woman as his vice presidential running mate.
- The other criminal cases against Trump are expected to face procedural delays, with this case likely being the only one to go to trial before the election.
Justice Juan Merchan set sentencing for July 11, just days before the Republican National Convention, where Trump is expected to be formally nominated for president. Trump's legal team plans to appeal the verdict, arguing it was based on unreliable testimony from Michael Cohen, Trump's former fixer. The case, known as the "zombie case," was revived by Manhattan District Attorney Alvin Bragg after his predecessor chose not to bring charges.
The conviction has sparked reactions from both sides of the political spectrum, with Trump's fellow Republicans condemning the verdict and Biden's campaign emphasizing that no one is above the law. Trump's legal battles are expected to be a significant factor in the upcoming election, with the potential to impact his campaign strategy and voter support.
This article was originally published on Quiver Quantitative