Two Former Aides' Guilt Marks a Consequential Day for Trump
*By Carlo Versano*
A reckoning for two of President Trump's former associates occurred almost simultaneously on Tuesday in two separate federal courthouses in Virginia and New York ー what may become one of the most consequential moments for the Trump administration.
Paul Manafort, the president's former campaign manager, was found guilty on eight counts of bank and tax fraud in his federal corruption trial in Washington D.C. The jury was hung on 10 additional counts. The charges do not relate to Manafort's duties as a member of the Trump campaign, though they represent the first conviction by trial in the special counsel Robert Mueller's investigation.
The verdict arrived just as Michael Cohen, Trump's former lawyer, appeared in New York district court to accept a plea arrangement in the case against him. Cohen, who has been under investigation for tax and bank fraud, has reportedly admitted that he made hush-money payments to Stormy Daniels, among other unrelated charges of fraud. It remains unclear whether Cohen is cooperating with investigators or just accepting an agreement in exchange for a lighter sentence.
Federal investigators raided Cohen's office in April in search of documents and materials related to payments he made to women who alleged they had relationships with the president.
Cohen, a longtime Trump loyalist, only recently began to indicate that his commitment had limits, saying in an [interview] (https://abcnews.go.com/GMA/News/video/exclusive-president-trumps-personal-attorney-michael-cohen-speaks-56309885) last month that he put his family and country before the president.
Manafort, meanwhile, took his federal case to trial, presented no defense, and after Tuesday's verdict is widely expected to face significant jail time. It is unclear if prosecutors will retry him on the 10 counts. Manafort is awaiting trial in Washington for conspiracy to defraud the U.S.
For more on this story, [click here](https://cheddar.com/videos/michael-cohen-enters-plea-deal).
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Chris Vecchio, senior strategist at DailyFX, says the James Bullard and the Fed's bark may be louder than its bite when it comes to potential rate hikes in May. Investors brushed off any causes for concerns during Tuesday's session, which led to stocks ending the day sharply higher.
Catching you up on what you need to know on April 19, 2022, with a federal judge voiding mask mandates on public transportation, updates from the Russia and Ukraine war, Mac Miller’s drug dealer sentenced for involvement in the rapper's death, and more.
A federal judge’s decision to strike down a national mask mandate was met with cheers on some airplanes but also concern about whether it’s really time to end the order sparked by the COVID-19 pandemic.
