Former President Donald Trump has pleaded not guilty to all 34 felony counts of falsifying company records that were brought against him by a Manhattan grand jury. Prosecutors allege in the indictment, which is the result of an investigation into the Trump Organization, that Trump and his firm engaged in a multi-year conspiracy to disguise payments as business costs in order to avoid paying taxes on it.

Trump is accused of ten counts of first-degree business record falsification, ten counts of first-degree criminal tax fraud, and one count of first-degree scheme to defraud. The transactions covered by the accusations took place between 2010 and 2018, when Trump was in control of the Trump Organization.

In order to hide the true nature of payments made to employees and contractors, the indictment claims that Trump and his colleagues “knowingly and intentionally” manipulated corporate records, including tax returns and financial statements. The accused fraud employed a range of strategies, including using the business to pay for personal spending, inflating asset values to qualify for loans and tax advantages, and fabricating invoices and other paperwork to support illegal transactions.

Prosecutors claim that by using the method, Trump and the Trump Organization were able to avoid paying more than $1.7 million in taxes. Stormy Daniels, an adult film actress who claims to have had an affair with Trump in 2006, is also charged in the indictment with fabricating company records in order to conceal payments.

The accusations against Trump are the most recent in a slew of legal issues that the former president has dealt with since he left office in January. In addition, Trump is dealing with a number of legal cases pertaining to his business transactions and personal behavior, as well as an ongoing inquiry into his involvement in the January 6 uprising at the US Capitol.

Trump responded to the indictment with a statement denying any wrongdoing and charging the prosecution with conducting a “witch hunt” against him because of his political beliefs. The Democrats’ fixation with trying to bring me down is evident once again, according to Trump. “They’re using the courts to try to smear my name because they know they can’t win at the polls.”

Given the strength of the evidence offered by prosecutors, legal experts say Trump will have a difficult time refuting the allegations. The Center for National Security at Fordham Law School’s Karen Greenberg remarked, “The allegations against Trump and the Trump Organization are very serious and appear to be supported by a substantial amount of evidence.” It will be challenging for Trump to claim that he was unaware of what was happening.

The allegations also cast doubt on the Trump Organization’s future, which has already struggled financially in recent years. Trump might now receive a significant prison sentence if found guilty, making it difficult for the business to draw in new investors and keep its current clientele.

Despite these difficulties, some analysts believe that the Trump Organization may still be successful, even if Trump is ultimately found guilty. “The Trump Organization is a very resilient brand, and it’s likely that some investors and business partners will continue to work with the company even if Trump is no longer involved,” said Michael Gordon, a senior analyst at the investment research company Weiss Ratings.

Given that Trump is still a significant force in the Republican Party, the indictment is also likely to have political repercussions. After the January 6 uprising, some Republicans distanced themselves from Trump, but others stuck by him. Many see him as their best chance to win back control of Congress in the 2022 midterm elections.

As the party tries to win back voters who may have been turned off by the former president’s divisive rhetoric and actions, the charges against Trump could make it even more difficult for them to unite behind a coherent message and strategy.

Ronald Fischetti and other attorneys have dubbed the accusations “a political witch hunt” and vowed to defend their clients in court.

The Trump Organization, in the meantime, issued a statement denying any wrongdoing and vowing to “continue to comply with the law.”

The former president has been the subject of numerous investigations for years, and the indictment represents a significant escalation in his legal woes. He is also under criminal investigation by the New York attorney general’s office for possible insurance and tax fraud in addition to the charges relating to the Trump Organization’s business records. Additionally, the Manhattan district attorney’s office is conducting a separate civil investigation into his financial dealings.

The future of the Trump Organization, which has been run by the former president’s two eldest sons, Donald Trump Jr. and Eric Trump, since their father assumed office in 2017, is also thrown into doubt by the grand jury’s indictment. Although the business has carried on since Trump left the White House earlier this year, it is still unknown how it will handle the current legal difficulties.

According to legal experts, the former president is facing serious charges that, if proven true, could result in severe punishments. According to former federal prosecutor Joyce White Vance, falsifying business records is a crime with consequences. It is intended to defraud someone and may result in negative outcomes in the real world.

The accusations also highlight the dangers that businesses and executives run when they use dubious business methods. This serves as a reminder for businesses to maintain accurate records and for executives to be aware of their legal responsibilities, according to legal expert Steve Vladeck. “They will be held accountable if they engage in fraudulent behavior.”

Donald Trump’s indictment is also likely to have political repercussions because it may further alienate his supporters and make it more difficult for him to run for office again in the future. Trump has not yet declared whether he will run for the Republican presidential nomination in 2024, but he has made hints about it and has remained a major player in the party ever since leaving office.

The Senate Minority Leader Mitch McConnell said that Trump is “entitled to the presumption of innocence, but that’s not a judgment of how he will be judged ultimately,” indicating that some Republicans have already distanced themselves from the former president in the wake of the indictment. House Minority Leader Kevin McCarthy tweeted that “President Trump is innocent and this latest attack is just another desperate attempt by the Democrats to undermine his legacy,” but other people have stood by him.

Regardless of the political repercussions, Donald Trump’s indictment will likely be remembered as a pivotal moment in the ongoing campaign to hold influential people and corporations accountable for their deeds. No one is exempt from the law, Vance said. This serves as a reminder that even people with a lot of power and influence can be held accountable.