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DJT stock climbs amid Trump hush money trial updates

Published 05/17/2024, 09:33 AM
Updated 05/17/2024, 09:35 AM
© REUTERS DJT stock climbs amid Trump hush money trial updates
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Donald Trump’s legal team has painted Michael Cohen, his former attorney, as an unreliable witness who acted independently in the hush money trial involving a payment to adult film actress Stormy Daniels. However, legal experts argue that prosecutors have supported Cohen’s testimony with substantial evidence, including phone logs and corroborative accounts from other witnesses.

Despite this, shares in Trump Media & Technology Group (DJT) rose slightly at the market open on Friday.

Cohen testified this week that Trump directed him to pay $130,000 to Daniels to ensure her silence about an alleged 2006 affair prior to the 2016 election. He alleged that the former US President then approved a plan to falsify records to conceal the deal.

Prosecutors have presented significant circumstantial evidence pointing to Trump's knowledge and involvement in the scheme, putting an emphasis on his tendency to micromanage. Notable testimonies from individuals like David Pecker, the former publisher of the National Enquirer, and recordings of discussions about hush money payments have further strengthened the prosecution's position.

Cohen’s credibility was bolstered by evidence showing he was in frequent communication with Trump and campaign officials during the critical periods. Moreover, prosecutors introduced emails and text messages illustrating Cohen’s role in arranging the payments and discussions about their concealment, representing key digital evidence that further cements the narrative that Trump was directly involved and aware of the transactions.

“Part of what the prosecution did well is to corroborate other pieces of Michael Cohen’s testimony so completely,” said New York Law School Professor Rebecca Roiphe.

“There’s a lot of circumstantial evidence connecting Trump to the payments,” she added.

Despite these efforts, some key conversations between Cohen and Trump remain uncorroborated. Trump's defense team argues that he delegated business details to associates, such as Cohen and Allen Weisselberg, the latter of whom is not testifying in this trial.

Trump, who has pleaded not guilty to 34 felony counts of falsifying business records, claims the case is a politically motivated attack on his presidential campaign.

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