Former president Donald Trump faces more than 30 counts related to business fraud in an indictment from a Manhattan grand jury, according to two sources familiar with the case, becoming the first time in American history that a current or former president has faced criminal charges.

The indictment was unsealed in a proceeding before Judge Juan Merchan in criminal court in Manhattan. Trump was flanked by his lawyers inside the courtroom as prosecutors outlined their case, alleging he made covert and illegal payments to affect the 2016 election. He faces a maximum of four years in prison if convicted.

Currently, Trump has pleads not guilty for all 34 felony charges. He has denied any wrongdoing, calling the investigation by Bragg’s office a “witch hunt” and accusing Bragg of being a “racist.” 

Trump released a statement in response to the indictment.

“I believe this Witch-Hunt will backfire massively on Joe Biden,” said former president Donald Trump. “The American people realize exactly what the Radical Left Democrats are doing here. Everyone can see it. So our Movement, and our Party – united and strong – will first defeat Alvin Bragg, and then we will defeat Joe Biden, and we are going to throw every last one of these Crooked Democrats out of office so we can MAKE AMERICA GREAT AGAIN!”

The statement of facts compiled by prosecutors in conjunction with the indictment said Trump “repeatedly and fraudulently falsified New York business records to conceal criminal conduct that hid damaging information from the voting public during the 2016 presidential election.”

It outlined three people who received hush money payments: adult film star Stormy Daniels, Playboy model Karen McDougal and a former Trump Tower doorman. Daniels was paid $130,000, McDougal was paid $150,000, and the doorman was paid $30,000. 

The decision has sent shockwaves across the country, pushing the American political system which has never seen one of its ex-leaders confronted with criminal charges, let alone while running again for president – into uncharted waters.

With the case being just one of at least three criminal probes into Trump, it may act as a hefty road block to Trump’s 2024 presidential campaign.  

The arraignment is just the beginning of a lengthy legal process that could take months or years to resolve. The case is expected to go to trial next year.