A Manhattan jury found Donald Trump guilty on all 34 counts of falsifying business records he faced in his New York hush money criminal trial.
Trump is the first president in US history to be convicted of a felony.
Prosecutors accused Trump of taking part in an illegal conspiracy to undermine the integrity of the 2016 election and an unlawful plan to suppress negative information, which included concealing a hush money payment to an adult film star.
Trump slammed the trial after the verdict, calling it a “disgrace” and “rigged.”
Judge Juan Merchan denied Trump’s move for an acquittal of the charges and set a sentencing hearing for July 11.
Meanwhile, shares of Truth Social owner Trump Media & Technology Group (DJT) tumbled 9% in after-hours trading Thursday after former President Donald Trump was found guilty on all 34 felony charges.
Trump Media’s share price was little changed until news broke that the jury had reached a verdict. Shares then fell sharply after the conviction was announced.
Trump is the chairman and leading shareholder of Trump Media, which went public in March after completing a controversial merger.
Even accounting for the after-hours selloff, Trump’s dominant stake of 114.75 million shares is valued at $5.4 billion on paper.
Experts have said the lofty valuation placed on Trump Media is hard to square with the fact that Truth Social remains a tiny player in social media and the company generates very little revenue.
