Category: Business

• Nvidia CEO Jensen Huang's Taiwan visit boosts local stock market amid China tensions.
• Huang's arrival signals confidence despite recent Chinese military drills around Taiwan.
• Investors focus on tech stock indices over geopolitical risks, seeing buy opportunities.

Nvidia cofounder and CEO Jensen Huang is in Taiwan this week, where he's getting rockstar reception and boosting the stock market.

Huang arrived in Taiwan on Sunday a day after China wrapped up military drills around the island, which Beijing claims as its territory. Li Xi, a spokesperson for China's People's Liberation Army, said the exercise was a "strong punishment for the separatist acts of 'Taiwan independence' forces."

The drills started on Thursday, but Taiwan's stock market was little changed over the period. The market resumed its ascent on Monday following Huang's arrival — signaling confidence in Taiwan's massive chip sector that the world depends on.

Local media has been out and about on Huang's trail this week. The leather jacket-clad rockstar tech exec has been spotted dining with bigwigs from TSMC, Foxconn, and Asus.

On Wednesday, Huang also strolled through a night market with Morris Chang, the 92-year-old founder of chip giant TSMC.

He also appeared to have taken time out to visit his regular hair salon in Taipei, per the salon's Instagram.

Huang is scheduled to deliver the opening address at tech trade show Computex on Sunday.

Other high-profile global tech execs are also expected to deliver keynotes. They include AMD CEO Lisa Su — who is a distant cousin of Huang — Intel CEO Pat Gelsinger, Qualcomm CEO Cristiano Amon, and Arm CEO Rene Haas.

'PHLX Semiconductor Index matters more than the PLA'

The rally in Taiwan's tech-backed stock market contrasts with growing fears over China's military activities around the island.

Investors have to note that growing tensions among China, Taiwan, and the US will be a "permanent feature of the global landscape," wrote Rory Green, the chief China economist at GlobalData.TS Lombard, in a Thursday report.

However, for investors, "the PHLX Semiconductor Index matters more than the PLA," said Green, referring to the chip index hosted on the Philadelphia Stock Exchange that has gained 24% year-to-date. It's also up nearly 50% in the last 12 months.

In Taiwan, the island's TAIEX stock index has been breaching record highs this year on the back of the artificial intelligence frenzy on Wall Street that has boosted the stock price of US-listed Nvidia — whose largest supplier is TSMC.

The TAIEX index is up nearly 20% so far this year and hit a fresh all-time high on Tuesday.

"In this case, the AI equity theme, physical investment in AI, and the wider upturn in electronic component demand are driving robust Taiwanese growth and the strong stock market performance," wrote Green.

He added that an outright invasion of Taiwan by China is "very unlikely" due to high military and economic risk. Military preparations for an invasion would also be evident at least 12 months in advance — similar to the buildup near Ukraine before Russia invaded.

While a full blockade of Taiwan is a risk, Green said China is likely not willing to risk the severe economic, financial, and military repercussions it would bring because the East Asian giant is far from ready for international isolation.

Green said investors should view any geopolitical-driven sell-offs as a chance to get in at a lower price point.

"If the macro backdrop is positive and China remains far from achieving 'fortress-like' economic conditions, future sell-offs may offer attractive buying opportunities," Green wrote.

• Trump's donation page crashed just after he was found guilty of 34 felony charges in New York.
• He's been messaging supporters since the verdict, urging them to give money to his 2024 campaign.
• His website page for his "Dark MAGA hat" said 82,000 people had donated.

Former President Donald Trump's fundraising page crashed Thursday evening after he called for donations following his guilty verdict in a criminal trial in Manhattan.

The crash was reported by Trump's 2024 campaign team in a post on X at about 5:50 p.m., less than an hour after the former president was convicted of 34 felony counts of falsifying business records.

"So many Americans were moved to donate to President Trump's campaign that the WinRed pages went down," the post read. "We are working on getting the website back online as quickly as possible. Stay strong."

About 30 minutes later, the account posted an update saying the website was back online.

The New York Times and CNBC also reported on the outage.

Preliminary trend data from Google shows that searches for "Donald Trump donation" jumped to a four-year high this week.

Trump, who has decried the jury's decision, sent his supporters multiple messages linking to his donation pages in the hours after the verdict.

His main fundraising page features his mugshot from August when he surrendered to Georgia authorities at the Fulton County Jail. A caption under the photo reads, "Never Surrender."

Donors can contribute $100 to his campaign under the option: "DONATE THIS AMOUNT IF YOU THINK PRESIDENT TRUMP DID NOTHING WRONG!"

He's also started selling a "Dark MAGA hat," writing in a caption that he was "JUST CONVICTED IN A WITCH HUNT TRIAL."

The black baseball cap is emblazoned with the slogans "Never Surrender" and "Make America Great Again." On its page, options to qualify for the hat start at $47.

A counter stated that more than 82,000 people had contributed donations.

CNBC reported that Trump attended a fundraiser in New York after his verdict, then returned to Trump Tower at around 9:25 p.m.

The former president habitually campaigns for small-donor funds using landmark moments in his legal troubles. After being indicted in Manhattan in April 2023, the Trump campaign said he made about $5 million in donations in 48 hours.

A spokesperson for Trump's campaign did not immediately respond to a request for comment sent outside regular business hours by Business Insider.

He's not been the only one to capitalize on his conviction. On Thursday evening, Democratic PAC MoveOn said it received 10,000 orders in 10 minutes for stickers that depicted Trump with the word "FELON" plastered over his eyes.

The stickers are given as a reward to supporters who complete a contact sheet on the PAC's website.

Trump faces another three criminal cases, though none are expected to go to trial before the 2024 election.

• Elon Musk says he hasn't talked to Donald Trump about joining his government if Trump's elected.
• Musk was responding to earlier reports saying that Trump was mulling an advisory role for him.
• The billionaire has grown critical of President Joe Biden but has stopped short of endorsing Trump. 

Elon Musk says he hasn't spoken to former President Donald Trump about joining a second Trump administration.

"There have not been any discussions of a role for me in a potential Trump Presidency," the Tesla and SpaceX CEO said in an X post on Thursday.

Musk's denial comes just a day after The Wall Street Journal reported that Trump wanted to give Musk an advisory role if he wins the 2024 election.

The pair have discussed ways for Musk to provide input on border security and economic policies, though the title and details of Musk's role remain unclear, The Journal reported on Wednesday, citing people familiar with the matter.

"President Trump will be the only voice of what role an individual plays in his presidency," Brian Hughes, a spokesperson for the Trump campaign, told the outlet.

Representatives for Musk and Trump didn't immediately respond to requests for comment from BI sent outside regular business hours.

Joining a second Trump administration would be an about-turn for Musk, who said he voted for President Joe Biden in the 2020 election.

Musk, however, has since soured on Biden. The mercurial billionaire became critical of Biden and the Democratic Party after Tesla was excluded from the president's 2021 electric-vehicle summit.

Besides chastising Biden for his handling of the Southern border crisis, Musk has also accused the Democrats of being "controlled by the unions."

But while Musk has said that he is unlikely to vote for Biden, he has stopped short of endorsing Trump.

"I may, in the final stretch, endorse a candidate. But I don't know yet," Musk told former CNN host Don Lemon in an interview that aired on March 18. "I want to make a considered decision before the election, and if I do decide to endorse a candidate, then I would explain exactly why."

On Thursday, Trump was found guilty on 34 counts of falsifying business records related to a hush-money payment made to porn star Stormy Daniels.

The conviction makes Trump the first former American president to become a felon.

"Troubling indeed," Musk said of Trump's predicament. "The American people as a whole should decide who is president."

• Google Meet is a video-conferencing service designed for businesses and organizations.
• Google recently integrated its Gemini AI tool into Google Meet for enhanced visual effects.
• Google Meet offers features like recording a meeting, blurring your background, and companion mode.

Google Meet, formerly known as Google Hangouts Meet, is a video-calling app that lets people come together in virtual meetings. As few as two or as many as 100 participants can join the same meeting and can speak, communicate via chat, or share video with each other from anywhere with internet access.

Google designed the platform primarily for businesses and other organizations, and it's a great way for colleagues who don't work in the same location to communicate. It can also be used as a video platform connecting friends and family, of course.

A Google Meet organizer can share whatever is on their screen with everyone on a call, and any participant can turn their own audio and/or video feed off at any time, participating however they choose. Google's Gemini AI has also enhanced the service, including visual effects to fix low video quality and lighting issues and translated captions for participants with language barriers.

Like other video-conferencing platforms, Google Meet exploded in popularity during the pandemic. Google CEO Sundar Pichai announced in April 2020 that Google Meet was adding roughly 3 million users every single day.

Here's what you need to know about how to use the platform:

How much Google Meet costs

Google Meet has a free tier that lets anyone with a Google account create or join a call — but there are some limitations. Group meetings can't exceed 60 minutes and can't have more than 100 participants (one-on-one meetings and mobile calls have no time limit).

But Google offers pricing plans for organizations or individuals who need more flexibility with their meetings.

Google Workspace has a few different membership tiers, and the more you pay, the more people you can have on a single Google Meet call.

• Business Starter costs $6 a month per user. It allows you to meet with up to 100 people at once for up to 24 hours.
• Business Standard costs $12 a month per user. You can meet with up to 150 people at once.
• Business Plus costs $18 a month per user. With this, you can meet with up to 500 people at once.
• Enterprise has no fixed price and requires you to contact sales. At this level, you can meet with up to 1,000 people at once.

Each Google Workspace tier also comes with extra Google Drive storage space and advanced data security options. There are also versions built for schools and educators, which Google offers for free to certain institutions. Google Meet is also integrated into Google Classroom, Google's online education platform.

If you're just an individual who wants to use Google Meet for your business, Google Workspace offers an individual plan for $9.99 a month, or an annual package that costs $8.33 per month for 12 months. This plan gives you meetings that can last up to 24 hours, as well as extra storage.

How to join a Google Meet call

You join a Google Meet session by using a code that's created when the event organizer schedules the meeting. 

On both the Meet mobile app and on a computer, simply pull up Google Meet and click or tap "Use a meeting code" (it may say "Enter a meeting code" on mobile). Once your code is in, provided the session has started, you'll enter the call and can begin talking with your team.

You can also access Google Meet calls through Google Calendar, if the organizer has created a link for the meeting within the event. Simply click on the event and click Join with Google Meet.

The creator of the meeting can also send out a direct link, which you just have to click once to join the meeting.

Just remember that you need to allow Google Meet to access your phone or computer's camera and microphone when you set it up, or the program won't function properly.

Using Google Meet's features

Once you are in a Google Meet meeting, there are various features you can make use of to enhance the experience. One basic but highly useful feature is recording, which can preserve the video and audio for later review. 

How to record a Google Meet

To record a Google Meet session (assuming you're not the host), first request co-host access. Then, while the meeting is ongoing, at the bottom right corner of the screen, click Activities, then click on Recording on the activities panel that opens.

Then hit the Start recording button and that's it — you can stop any time back in the activities panel or just wait for it to end. You will be emailed a link to the recording after the session ends.

How to blur Google Meet background

To keep your home or workspace private or to add a bit of fun to a Google Meet session, you can blur the background behind you in Google Meet.

1. Before joining the meeting or as soon as it begins, click Apply visual effects below your view of yourself.

2. Then hit the Backgrounds tab and click Slightly blur or Blur, the outcomes here being self-explanatory.

To upload a custom background — say a mountain or city scene — hit "Upload +" and then find the image you want to use on your computer.

Google Meet Companion mode

Designed for hybrid meetings where some people are together in a room and some are remote, Companion mode lets you use your laptop to access all the features the remote participants enjoy — such as commenting, raising a hand, and sharing links — but it turns off your computer's sound, so there are no feedback loops created.

You keep using the AV hardware in the room for audio and visuals, but you have the full suite of Google Meet features at your disposal.

To use Companion mode, join the meeting via your computer, then click Other joining options. Next, hit Companion mode and then click Check in.

• Trump was convicted on 34 counts of falsifying business records related to hush-money payments.
• Legal experts said the defense made mistakes and that the prosecution told a better story.
• Trump had previously said he would testify but ultimately didn't, which may have hurt his case.

Former President Donald Trump's historic conviction on Thursday may have been in part due to mistakes made by his defense team, including not having him take the stand, legal experts told Business Insider.

A New York jury convicted Trump on 34 counts of falsifying business records related to a hush-money payment made to porn star Stormy Daniels. The verdict made history: Trump is the only US president to also be a convicted felon.

Though the conclusion of the case was significant, three legal experts told BI the verdict wasn't a major shock. Two said Trump's team made a number of mistakes during the trial that could have influenced the jury's decision.

"I can't say I'm surprised," Alex Reinert, a criminal law and constitutional law expert at the Cardozo School of Law, said. "At the end of the day, it was a pretty simple case for the prosecution."

Mistakes were made

Eric Anderson, a former prosecutor and current counsel at Early Sullivan Wright Gizer & McRae LLP, said the case could've gone either way, but that he thought the odds favored the prosecution going into deliberations.

"Whoever has the best story wins," he told BI. "The prosecution's story was very simply: that Donald Trump did something that on its face, could have been completely legal, but he did it in an attempt to circumvent a federal election law."

On the other hand, he thought the defense's story just didn't work. For instance, they denied Trump ever had an affair with Daniels and did not provide a counter for it, even though many Americans already believe the alleged affair happened.

Neama Rahmani, a former federal prosecutor and president of West Coast Trial Lawyers, said the defense "overpromised and underdelivered."

He pointed to opening statements made by Trump's lawyer, Todd Blanche, that Rahmani thought suggested an accountant would testify and serve as a fall guy. No such testimony was offered.

He also said the defense focused too much on Michael Cohen, Trump's former lawyer, but that he wasn't even the key witness. Instead, Rahmani said it was David Pecker, the former publisher of the National Enquirer, who was the key witness for the prosecution.

"He's the one that directly tied Trump to the catch and kill scheme," he said.

Anderson said Cohen's testimony worked against Trump, despite the lawyer's potential credibility issues. He said often the most credible witnesses are the ones who own up to being liars, and that the defense just didn't know how to rattle Cohen.

Even if the defense hadn't made these mistakes, it might not have made a difference, Rahmani said. Still, he thought they made it a lot easier for the jury to find Trump guilty.

Not testifying may have hurt Trump

Whether Trump would take the stand was a will-he-won't-he question for weeks, with the former president even saying he would testify.

But when the defense's case rested last week, Trump hadn't been called to the stand.

"Donald Trump never got up there and said, 'Here's the reason I did this.' If you don't do that, all the jury is left with is the prosecution's version of events," Anderson said.

Not long before resting their case, the defense told the judge they were still weighing having Trump testify. Some legal experts previous said testifying would not be a good idea for Trump, with concerns that he could end up committing perjury.

But Rahmani agreed that not having him speak up may have ultimately hurt his case.

"The defense needed something, some sort of explanation," Rahmani said of the falsified records. 

"I think they would've been better off if either Trump or an accountant testified, 'These were wrong, but it was an innocent mistake,'" he said.

Instead of claiming that a mistake was made with the records, Rahmani said the defense chose to "lie" in their closing statements and say there were no issues with the payments.

"I think they lost all credibility," he said.

Don't expect to see Trump behind bars

Trump's sentencing is scheduled for July 11. It's highly unlikely he will receive any jail time, the experts said. Instead, probation is most likely, or potentially home confinement.

"There's no way Judge Merchan is going to send him to jail. It was clear when he violated the gag order 10 times and the judge just threatened him," Rahmani said.

Trump's team will almost certainly appeal, but their potential arguments aren't particularly strong, the lawyers said.

Regardless of the sentence, Trump would still be able to run for president. Being convicted of a felony — or even being behind bars — does not disqualify presidential candidates.

Trump and Biden both said as much after the verdict, when they each emphasized the importance showing up at the ballot box in November.

• A jury found Donald Trump guilty of 34 counts of falsifying business records on Thursday.
• The historic criminal conviction of a US president raises several questions about Trump's future.
• Trump is gearing up to battle President Joe Biden for the presidency in November. 

Former President Donald Trump is officially a felon.

The historic Thursday verdict against Trump represents the first time a US president has ever been criminally convicted.

The unprecedented legal outcome raises several questions about Trump's future, especially as he prepares to battle President Joe Biden for the presidency in November.

What was Trump found guilty of?

A Manhattan jury found Trump guilty of 34 criminal counts of falsifying business records to cover up a $130,000 hush-money payment to adult film actor Stormy Daniels days before the 2016 election.

What did Trump pay hush money for?

Trump directed his then-fixer, Michael Cohen, to buy Daniels' silence over a sexual encounter she alleges happened between the two at a Lake Tahoe hotel in 2006 during a celebrity golf tournament. Trump has repeatedly denied the affair.

Is Trump going to jail?

Despite being found guilty on all charges, Trump is not expected to go to prison. His crimes are nonviolent offenses, and Trump has no previous criminal record. Legal experts told Business Insider that Trump will more likely receive probation at his sentencing, which is set for July 11.

Can a president pardon himself?

If Trump wins the election in November, he will have access to broad pardon powers. However, that authority won't apply to this conviction. The president only has pardon powers over federal charges and Trump's hush-money trial played out in New York state court.

Can a felon run for president?

Yes. The only three requirements for presidential candidates in the US Constitution are that they must be natural-born citizens, at least 35 years old, and have been US residents for at least 14 years. 

The 14th Amendment also forbids anyone from taking office who has engaged in insurrection against the US. Several states pushed to keep Trump off the 2024 ballot because of this stipulation. But earlier this year, the US Supreme Court ruled in favor of keeping the GOP frontrunner on the ballot. 

Can Donald Trump still run for president?

Yes. And he's already doubled down on trying to use Thursday's guilty verdict to his advantage. The former president immediately started fundraising after the verdict.

What was Trump's reaction to the verdict?

Trump appeared furious about the jury's decision, baselessly accusing the trial of being "rigged" after hearing the verdict and declaring himself innocent.

"We didn't do a thing wrong. I'm a very innocent man," he told reporters, adding that the "real verdict is going to be November 5 by the people."

What was Michael Cohen's reaction to the verdict?

Cohen, Trump's former lawyer who provided critical witness testimony in the hush-money-trial, celebrated the verdict, telling Business Insider that it was "an important day for accountability and the rule of law."

"While it has been a difficult journey for me and my family, the truth always matters," he said.

What was Biden's reaction to the verdict?

President Joe Biden and his campaign on Thursday were mostly muted in responding to the verdict, acknowledging that Trump still has a path to the presidency despite the conviction.

"There's only one way to keep Donald Trump out of the Oval Office: At the ballot box," Biden wrote on X.

What was Stormy Daniels' reaction to the verdict?

Daniels, the adult film actress at the center of the entire case, has remained silent on the conviction, at least on social media. She did like an X post from comedian Kathy Griffin Thursday evening, who wrote, "Thank you @StormyDaniels."

• Pershing Square Capital Management CEO Bill Ackman is leaning to supporting Donald Trump.
• According to multiple reports, Ackman is considering a public announcement backing Trump.
• He would join a growing list of Wall Street titans that have lined up behind the former president. 

Billionaire investor Bill Ackman is considering endorsing former President Donald Trump, according to multiple reports.

The Financial Times was the first to report that the hedge fund manager is leaning toward the former president.

Ackman, the founder and CEO of Pershing Square Capital Management, previously donated $1 million to a super PAC supporting Rep. Dean Phillips of Minnesota, who mounted a long-shot primary challenge to President Joe Biden. Ackman also supported former UN Ambassador Nikki Haley, who recently endorsed Trump after her failed GOP primary run.

Ackman would likely make his endorsement on X, according to the FT. The hedge fund manager has become an outspoken personality on the Elon Musk-owned platform.

Bloomberg News also reported that a person familiar with Ackman's thinking sees Robert F. Kennedy, who is mounting an independent campaign, as unlikely to win — pushing the billionaire closer to Trump.

Ackman is the latest billionaire to show openness to supporting Trump, whose administration was at times at loggerheads with Wall Street. Blackstone Group CEO Steve Schwarzman told Axios last week that supporting Trump was a "vote for change.

Ackman has supported Democrats in the past, but has backed some conservative candidates more recently.

In January, he described diversity, equity, and inclusion initiatives as "racist."

"DEI is racist because reverse racism is racism, even if it is against white people (and it is remarkable that I even need to point this out)," Ackman wrote on X.

After Hamas' October 7 attack on Israel, Ackman pressured Harvard, his alma mater, to take a more forceful stance against the attack and to protect students from antisemitism on campus.

Following Trump's conviction Thursday afternoon, Ackman shared a post on X from Florida Gov. Ron DeSantis condemning the verdict. "I think any objective person would have to agree with @GovRonDeSantis here," he wrote.

Ackman and a Pershing Square Capital Management spokesperson did not immediately respond to Business Insider's request for comment.

• The hush-money verdict was announced just as trial attendees expected to go home for the day.
• Trump began shaking his head 'No,' after the 5th 'guilty,' said court artist Christine Cornell.
• "He looked very demolished by it. He really did," Cornell said.

Donald Trump looked "demolished" after being found guilty of 34 counts of felony falsifying business records, according to a veteran court sketch artist who captured the moment for history.

"He looked very demolished by it. He really did," artist Christine Cornell told Business Insider after Thursday's verdict.

The jury had sent out a note reading, "We the jury have reached a verdict" at 4:20 p.m., just as trial attendees were expecting to leave the crowded Manhattan courtroom and go home for the day.

Everyone — including, apparently, Trump — had figured court would end at 4:30 p.m., and that the jury would just return Friday to keep deliberating.

"He was feeling a little upbeat — that we were all going to be able to go home," Cornell said of Trump. "So if anyone was the most surprised there was a verdict, it was him.

Then came the verdict note. Cornell finished a chalk pastel drawing showing Trump waiting pensively while chatting with his lawyer Todd Blanche.

Then the jurors filed in, and at 5:05 p.m. the first "guilty" was recited by the jury foreman.

Cornell was well-situated to watch Trump's body language, sitting in the second row and across the aisle, right behind Manhattan District Attorney Alvin Bragg, who brought the indictment.

After hearing the word "guilty" for the fifth of 34 times, Trump began shaking his head "no" as he sat at the defense table.

Cornell, who did not have a verdict sketch pre-prepared, was meanwhile sketching away.

"I drew the verdict in the middle of the verdict," she said. "I got everybody in there though."

The posture of the foreman caught Cornell's eye, she said.

"It was an unusual stance," she said of the foreman, a salesman who was born in Ireland and spoke with a slight brogue.

"It's like he was propping one hand forward on the rail of the jury box," she said. "He was quite serious."

Afterward, Trump appeared deflated, said Cornell, whose 30-year career has included sketching the trials of Gambino mobster John Gotti, Ponzi schemer Bernie Madoff, the Central Park Five, subway vigilante Bernie Goetz, and even former Filipino First Lady Imelda Marcos.

"As he walked by me, he started to swing his arms in what was sort of a hopeless gesture," she said of Trump.

Trump must return to court on July 11 for sentencing. He faces anywhere from no jail up to four years prison.

Experts have said a sentence of incarceration is unlikely, given that Trump was convicted of a low-level, non-violent felony and is — at least for now — a first offender.

He has three more indictments yet to be tried.

• Donald Trump is now a convicted felon after a jury found him guilty in the hush-money trial.
• His two eldest sons immediately took to social media to denounce the verdict.
• "Such bullshit," Donald Trump Jr. said on X.

Donald Trump's eldest sons immediately posted on social media to denounce their father's historic conviction on Friday in the New York hush-money trial.

"Such bullshit," Donald Trump Jr. wrote on X, before publishing more posts, criticizing the verdict and baselessly painting the trial as an attempt to interfere with the 2024 election.

Eric Trump, the middle son who was Trump's only family member present in the courtroom, also wrote on X that the date of the verdict may be remembered as the day his father won the election.

The rest of Trump's immediate family members remained silent on social media, but some were also present near the Manhattan Criminal Court.

Trump Jr., Eric, and Eric's wife and Republican National Committee co-chair Lara Trump, provided statements to the press near the courthouse condemning the verdict.

"This was never a case about prosecuting an actual crime," Lara Trump told reporters. "This is a case about politics, pure and simple."

As of Friday evening, Trump's wife, Melania, as well as his daughter, Ivanka Trump, and her husband, Jared Kushner, had not released public statements on the outcome of the trial.

Kimberly Guilfoyle, Trump Jr.'s fiancée, lent public support to the former president, writing on X that "the only verdict that matters is at the ballot box on November 5th."

Only one member of Trump's family lauded the guilty verdict: Trump's niece, Mary L. Trump.

"This scumbag finally got what was coming to him," she said in a YouTube live stream, "granted in a very limited way."

• Micheal Cohen reacted to a jury finding Donald Trump guilty of 34 counts of falsifying business records.
• The former Trump fixer testified as the prosecution's star witness.
• Cohen said the journey was difficult for him and his family. 

Michael Cohen on Thursday celebrated Donald Trump's unprecedented criminal conviction after a Manhattan jury found the former president guilty of 34 counts of falsifying business records. 

Cohen, Trump's former longtime personal lawyer and fixer, was the prosecution's star witness in the five-week hush-money trial, which focused on Trump's efforts to cover up a $130,000 hush-money payment to adult film actor Stormy Daniels just 11 days before the 2016 election.

"Today is an important day for accountability and the rule of law," Cohen told BI. "While it has been a difficult journey for me and my family, the truth always matters."

Cohen also thanked his attorneys for their "invaluable guidance and support" throughout the legal process.

In court, Cohen testified that Trump directed him to make the payment to Daniels — for her silence over a sexual encounter the adult entertainment star says she had with Trump in 2006 during a celebrity golf tournament — ahead of the 2016 election and then repaid him with several checks in 2017 after he was already in office. 

Trump has repeatedly denied the affair.

Trump's legal team spent much of their defense time attacking Cohen's credibility, but legal experts told BI that Cohen was ultimately a witness that the defense couldn't rattle.

Cohen is also a convicted felon. He pleaded guilty in 2018 to campaign finance violations, tax fraud, and bank fraud. Cohen spent more than two years in prison.

Trump's sentencing date has been set for July 11. The former president will appeal the verdict, his attorney told Business Insider.