Former President Donald Trump loudly pleaded “not guilty” Tuesday to 34 counts of falsifying business records—though attorneys remain divided on the strength of the now-unsealed case.

On one hand, the felony indictment against the ex-president presents a compelling case for an orchestrated plot to bury unflattering information about Trump in the run-up to the 2016 election. On the other, the legal questions remain murky.

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