Former US President Donald Trump was found guilty on Thursday of falsifying business records in the hush money trial being held in New York.

The 12-person jury found Trump guilty on all 34 counts of falsifying business records in connection with a hush money payment to adult film actor Stormy Daniels near the end of the 2016 presidential campaign.

The verdict came in the jury's second day of deliberations. Trump thus becomes the first former US President to be convicted in criminal court.

The sentencing is scheduled for July 11.

Trump, who pleaded not guilty to the 34 counts, briefly spoke to cameras outside the courtroom and slammed the conviction.

"This was a disgrace," he said. "This was a rigged trial by a conflicted judge who was corrupt ... This was a rigged, disgraceful trial."

Trump said the "real verdict will be November 5 by the people" and added, "I'm a very innocent man. It’s OK. I’m fighting for our country. I’m fighting for our Constitution."

"This is far from over," he said, before walking away.

The conviction does not prevent Trump from running in the presidential election this coming November. He is the presumptive Republican presidential nominee after securing enough delegates in the primaries in various states.

US House Speaker Mike Johnson responded to Trump’s conviction and said, "Today is a shameful day in American history. Democrats cheered as they convicted the leader of the opposing party on ridiculous charges, predicated on the testimony of a disbarred, convicted felon. This was a purely political exercise, not a legal one.”

President Joe Biden responded to Trump’s conviction in a brief statement and said, “There’s only one way to keep Donald Trump out of the Oval Office: At the ballot box.”