This is a rush transcript from "The Five," August 21, 2018. This copy may not be in its final form and may be updated.

JUAN WILLIAMS, CO-HOST: This is a Fox News alert. Hello, everyone and welcome to "The Five." We're covering three breaking new stories at this hour. Paul Manafort guilty on 8 of the 18 counts he faced in his Virginia trail. We also have major developments with Michael Cohen, President Trump's lawyer reaching a plea deal. And we're awaiting a news conference in Iowa after the body of missing college student Mollie Tibbetts has been found. We'll bring you there live as soon as it happens. We'll head to chief national correspondent Ed Henry in a moment for the latest on the Cohen verdict, or Cohen plea deal, I should say. But first, Peter Doocy is live in Alexandria, Virginia, for the verdict in the Manafort trial. Peter?

PETER DOOCY, FOX NEWS: And, Juan, just in the last 45 or 60 seconds, we watch as Kathleen Manafort, Paul Manafort's wife exited the court room, she was surrounded by cameras and reporters asking what she thinks, how she feels. She did not respond. Now we wait for Manafort's defense attorney to exit the court. They have been very confident the last two days, really, two and a half days of deliberation. They thought that the longer that the deliberations went on, the better that was for them. As it turns out, eight -- on eight counts, their client, Paul Manafort, did wind up being found guilty by this jury of his peers. The other ten counts in this 18 count indictment, which were part of the special counsel's long list of allegations against Paul Manafort, the jury could not come to an agreement. So, eight guilty verdicts, ten were declared a mistrial. And then, the judge decided that, that's it. And he sent the jury home. He thanked them for their service. He also thanked both sided, the Mueller team and the defense attorney for Paul Manafort. He said that they were zealot in their representation of their side. The judge did ask the jurors if they wanted their identities to remain private, and they all concurred that they did. So, after a few days of concern about their names potentially getting out because of safety concerns, the names are going to remain confidential. But Paul Manafort has been found guilty here in Alexandria on eight counts out of 18.

WILLIAMS: Peter, thanks so much. We have a Fox News alert. Police in Iowa are holding a news conference in the case of missing college student, Mollie Tibbetts. Sources telling Fox News that her body has been found. The news comes a little more than a month after the 20-year-olds disappeared from her hometown, Brooklyn, Iowa. Let's listen in.

UNINDENTIFIED MALE: We have confirmed with homeland security investigations that he is an illegal alien, and we believe he's been in this area now for 4 to 7 years.

UNINDENTIFIED MALE: How did you come into contact with him? How did he get on your radar?

UNINDENTIFIED MALE: Well, during the investigation, we reached out to the public, as you well know. And during our neighborhood canvas, we came across an individual that had security cameras. We took those cameras. He was kind enough to give us the footage from it. And through that, we're able to identify a vehicle that we believed belongs to Mr. Rivera. It was a black Malibu. And from that, we were able to track his pattern and the route in which he took. We're also able to find Mollie running on this video, and we're able to determine that he's one of the last ones to have seen Mollie running based on the video, again, that we were able to seize from the general public.

(CROSSTALK)

UNINDENTIFIED MALE: I'm sorry.

UNINDENTIFIED FEMALE: (INAUDIBLE) What did he tell you? What you believe he did?

UNINDENTIFIED MALE: Well, again, we were able to pull him in during the investigation. We conducted a lengthy interview with Mr. Rivera. And during that interview, he tells us that he sees Mollie running and was able to come upon her, approached her, and while he was interfacing with her, he actually felt as if he ran alongside of her or behind here. And then at one point, he tells us that Mollie grabbed a hold of her phone and said you need to leave me alone, I'm going to call the police. And then, she took off running, he, in turn, chased her down. And then he tells us that at some point in time, he blacked out. And then he comes to -- near an intersection in which we believe he then placed Mollie.

(CROSSTALK)

UNINDENTIFIED MALE: I'm sorry.

UNINDENTIFIED MALE: Where did this happen?

UNINDENTIFIED MALE: At 385th street.

UNINDENTIFIED MALE: In what town?

UNINDENTIFIED MALE: In Brooklyn, outside of Brooklyn, actually, in the rural county just outside of Brooklyn, Iowa.

UNINDENTIFIED MALE: (INAUDIBLE) in the general area?

WILLIAMS: OK. Let's head over to Ed Henry now. He has all the breaking details on Michael Cohen's plea deal. Ed?

ED HENRY, FOX NEWS: Yeah, Juan, very interesting because, specifically, among other things he is pleading guilty to campaign finance violations and saying that, essentially, the money he pay to women during the campaign, Michael Cohen as the president's personal attorney, was hush money and that he did it at the direction of the candidate. Doesn't named that candidate, but everyone in the world knows that would be Donald J. Trump. And significant as well because this is the first time you see anyone in the president's orbit pleading guilty to charges directly involved in the 16th campaign. Remember with the Manafort's case you've just heard from Peter Doocy, that has nothing to do with Russian collusion or directly with the campaign.

Michael Cohen, we're told, will get jail time in the neighborhood of 3 to 5 years after pleading guilty, not just to those campaign finance charges I've mentioned, but bank fraud, tax evasion as well. But the campaign finance violations that mentioned could be problematic to the president because, number one, it could mean Cohen would be offering some cooperation down the road, we don't know that for sure. We don't want to speculate. But it opens the door to that. Number two, the other vulnerability for the president as that the campaign finance issue involves payment to those two women I've mentioned who alleged affairs with the president that he has denied, Stormy Daniels and Karen McDougall.

Third potential problem for the president, remember, that this development really contradicts what his new personal attorney, Rudy Giuliani told our own Sean Hannity back in May. Remember that Giuliani said back then that the president made $130,000 payment to Stormy Daniels, but insisted it did not break any campaign finance laws. For context, watch the sound bite.

(BEGIN VIDEO CLIP)

RUDY GIULIANI, PRESIDENT TRUMP'S ATTORNEY: Having something to do with paying some Stormy Daniels woman $130,000, I mean, which is going to turn out to be perfectly legal. That money was not campaign money. Sorry, I'm giving you a fact now that you don't know. It's not campaign money. No campaign finance violation.

SEAN HANNITY, FOX NEWS: They've funneled it through the law firm?

GIULIANI: Funneled through the law firm, and the president repaid it.

(END VIDEO CLIP)

HENRY: OK. So you've heard him there insisting that this had nothing to do with the campaign. That stands in stark contrast to what we're hearing from this court room here in New York City, that this broke campaign finance law, we obviously need still to get more details. The other thing to watch here is that Stormy Daniels attorney, Michael Avenatti, is tweeting out that he believes that the guilty pleas now from Michael Cohen will open the door to the stay in the separate civil suit against the president to be lifted. Meaning, that Avenatti believes, at least, and we'll have to fact check him, he believes he's going to get quick deposition from the President of the United States in the Stormy Daniels' case. Of course, his legal team will be trying to fight that. But the point is this now raises the question of whether there's any legal jeopardy for the president stemming from the campaign. And it also means that that private civil suit from Avenatti maybe back and maybe back in a big way, Juan.

WILLIAMS: Ed, thanks so much. Now, to help us sort out all these details, we bring in our chief political anchor, Bret Baier. Bret, let's start with the Manafort verdict, 8 verdicts out of the 18, what does it mean?

BRET BAIER, FOX NEWS: It means that he's facing a lot of jail time, potentially. Sentencing set for later. But he's also, obviously, facing another trial. But you're talking about a lot of years here, 8 counts of the 18, found guilty by this jury. Just put in context here, Juan, what we're looking at today as this is all rolling out throughout the day, you have the president's former campaign chairman, eight counts of bank fraud, tax fraud, hiding foreign accounts, doesn't have to do with him, President Trump, or candidate Trump, but it is someone who is tied to Trump world. And he's facing all of that. Then you have the president's former personal attorney, pleading guilty to eight counts, bank fraud, tax fraud, campaign violations as you've just heard from Ed Henry on the same day within a few hours. And the Michael Cohen situation is exponentially more explosive when it comes to direct ties to the president, specifically on this campaign finance issue.

WILLIAMS: You know, I think people are going to wonder then, what's the president's next move? Let me ask you that. How does the president then respond to Michael Cohen, Rudy Giuliani, his lawyer, what are you expecting here?

BAIER: You know, I don't know. I think you would see some of the same terminology that you heard from Giuliani before that they're going to try to parse that this was not a campaign finance violation. But when you have Michael Cohen pleading guilty to that, saying he was directed by the candidate for federal office, being Mr. Trump. You have, even though it's not listed as he's cooperating, he, essentially, is cooperating with the Mueller probe. And we don't know how far he may in addition to that providing the additional information from his time in the inner circle in Trump world. I think that this is going to be an interesting 24 hours as far as hearing from the president and his team to see what's next.

WILLIAMS: Dana Perino?

DANA PERINO, CO-HOST: Well, Bret, one thing, I think, that the president might do is -- maybe he won't comment on either of these two things at all, given that we just heard from the police in Iowa with the Mollie Tibbetts' case that they are holding -- the federal government is holding a man, illegal immigrants, as a suspect in that case, in that murder. And, to me, you know, thinking about the fact that the Mueller thing is a little bit complicated, the Cohen thing is interesting and it is explosive, no doubt, but if you are out there in America and you're watching this and you're thinking, what are we really care about right now? I think the president will probably be talking a lot about that.

BAIER: Sure, from a political standpoint I was answering -- answering the question about, you know, how does he respond to this? But from a political standpoint, he's on Air Force One right now, headed to West Virginia for a rally there to support a Republican senate candidate. And you're likely going to hear a lot about immigration. You're going to hear about the new coal rule today and the efforts of the proposal that the Trump administration is moving forward. He's probably not going to touch any of this, I would guess, in that stump speech. But over the next 24 hours there will have to be some response from the administration, from the Trump lawyers, because the Michael Cohen thing, I think more than the Paul Manafort decision is going to be very explosive in this town.

WILLIAMS: Greg?

GREG GUTFELD, CO-HOST: Yeah, I just have to piggyback on what Dana said. I think that, right now, Trump's, you know, main argument has now just been backed up by a very ugly reality, and I can't see how that is -- that when you stack that up against these other tax evasions and guilty pleas for an average American, it resonates. And I think it's going to become a bigger deal as we get closer and closer. When we talk about this stuff, it's actually -- it's a practical, real-world issue. It's not about these two men who most Americans, you know, know their names, maybe.

BAIER: No doubt. I mean, as far as what people in the middle of the country are looking at, caring about, yes. But when it talks about the next steps in the Mueller investigation, I mean, look how much has happened just today. And then you have the Michael Flynn sentencing being delayed, the former national security advisor, his sentencing pushback. You have the Papadopoulos sentencing coming up. You have a confluence of things that are happening with -- at least tangible to Mueller that seems like it's coming to a head. Does it Trump -- and not to use the Trump word, but does it, you know, step on the other issues of the day that cared most of people out there in the country know? But it is going to be a big thing if there is a direct tie and Cohen can make it between President Trump, these payments, and paying off these women before the election. It may be small in the big -- you know, as Giuliani describes it, but it could be big as far as where this investigation goes.

DAGEN MCDOWELL, GUEST CO-HOST: Bret, it's Dagen. But it does show how off the rails the Mueller investigation has gone. This special counsel was put in place to look at Russia collusion, and any involvement by the Trump campaign with Russian interference in our election. Then, it turns into obstruction of justice looking at what happened in the Jim Comey firing. That's a he said-he said, potentially. And then you look at this Cohen case. Now granted, Mueller referred the Cohen case to the southern district of New York, they didn't handle it. But now we're talking about.

PERINO: Dagen, I'm sorry to break in here. We're being asked -- Bret, excuse me, these are Manafort's lawyers here.

UNINDENTIFIED MALE: However, he would like to thank Judge Elis for granting him a fair trial. Thank the jury for their very long and hard fought deliberation. He is evaluating all of his options at this point. Thank you, everyone.

(CROSSTALK)

PERINO: All right. That was Kevin Donnelly, he was Paul Manafort's attorney. Saying that the defendant, Michael -- or I should say the guilty, Paul Manafort, on -- guilty on eight counts, is going to weigh all his options to see what will happen. Do we still have Bret Baier with us?

BAIER: I'm right here.

PERINO: Hi, Bret. So, I think that there are two questions here, does Paul Manafort try to appeal? But also, does the prosecution think about going back to retry on those ten counts that the jury could not come to consensus on?

BAIER: I don't think so, Dana. I think that, you know, the prosecution it seems like, you know, they got eight out of the ten. You're facing a possible maximum sentence of 80 years on the guilty counts. So, that's significant. And remember, Paul Manafort faces another child. So, if they're looking to put the squeeze on Manafort for some reason or another, they have it. They have that point. And that's the other point on the Cohen part is, you know, there's not a list that he's cooperating, but the sentencing that he's agreeing to is a little bit less than one would potentially face with those particular counts. And it does not preclude him from -- to your point, Dagen, cooperating with Mueller on money or other things that have to maybe even tangibly deal with Russia and cooperation. We don't know what we don't know.

MCDOWELL: I was just making the point that you've gone from Russia collusion to payments, to an ex-porn star and an ex-playboy playmate. That's where we are in this country.

BAIER: You're right. You're right. And, you know, remember that when that all came out, and when Rudy Giuliani went on Hannity's show and said, you know, oh, yeah.

PERINO: Bret, if I can hold you there. I'm sorry. The prosecution has just started speaking. We'll listen to them.

ROBERT KHUZAMI, DEPUTY U.S. ATTORNEY FOR THE SOUTHERN DISTRICT OF NEW YORK: -- the IRS. Also with, you know, the prosecutors from the United States attorney's office in the southern district of New York who prosecuted to Cohen matter. I'm going to have a brief statement and will not be taking any questions. Today, as you heard, Michael Cohen pled guilty to eight felony charges. Five of those dealt with tax evasion for the years 2012 to 2016, in which he failed to report approximately $4.1 million in recorded income. Approximately $2.5 of that money was from interest payments from a personal loan that he failed to report, approximately $1.3 million of that money was from the operation of his taxi medallion business. Approximately $100,000 of that money was from brokerage commissions, and over $200,000 was from consulting fees. That's over $4.3 million over a five-year period, which translates into a loss to the United States treasury of approximately $1.3 million.

In addition, in count six, Mr. Cohen pled guilty in making false statements from a financial institution in connection with an application for a home equity line of credit. In that application, he failed to disclose more than $14 million in debts that he had, and as a result of that concealment, he attained that $500,000 line of credit, which he would not have been entitled to, had he been candid and honest. In addition, Mr. Cohen pled guilty to two campaign finance charges, one for causing an unlawful corporate contribution, and a second one for personally making an excessive personal contribution, both for the purpose of influencing the 2016 election.

In addition, what he did was he worked to pay money to silence two women who had information that he believed would be detrimental to the 2016 campaign, and to the candidate, and the campaign. In addition, Mr. Cohen sought reimbursement for that money by submitting invoices to the candidates company which were untrue and false. They indicated that the reimbursement was for services rendered for the year 2017, when in fact those invoices were a sham. He provided no legal services for the year 2017, and it was simply a means to obtain reimbursement for the unlawful campaign contribution.

A couple of points that I'd like to make. First, these are very serious charges and reflect a pattern of lies and dishonesty over an extended period of time. They are significant in their own right, they are particularly significant when done by a lawyer. A lawyer, who through training and tradition, understands what it means to be a lawyer to engage in honest and fair dealings in adherence to the law. Mr. Cohen disregarded that training, disregarded that tradition, and decided that he was above the law, and for that, he's going to pay a very, very serious price.

With respect to the campaign finance violation, the campaign finance laws are designed to prevent use of illegal money in elections and to maintain the integrity of those elections. Mr. Cohen made guilty pleas for those campaign violations. And those are four violations. And what he did was, he -- these pleas reminds us that it's illegal for corporations to make contributions to candidates. And it is illegal to make contributions in excess of the amount that congress set for individuals. That is a strong message today, and we will not be -- we will not fear prosecuting additional corporation campaign finance cases.

Lastly, and, perhaps, most important, this case is unique in many ways. Just witness the gathering of all of you here today. And in other ways, it's unique as well. But in a really important ways, this case is not unlike many cases that my office, the United States attorney office brings, that the entire Department of Justice brings, and that the law enforcement agencies do as well, including the FBI and the IRS. This case has more in common with all of those cases because they all share the same message. And that message is that the rule of law applies. And that for law enforcement, all of whom are gathered here, it is our commitment that we will pursue and vindicate those who choose to break the law and vindicate the majority of people who live law-abiding lives, who follow honest and fair dealings, and live lives of lawful behavior.

The message is that we are here. Prosecutors are here. Law enforcement is here. The Department of Justice is here. The law enforcement agencies are here. We are a nation of laws, and the essence of this case is about is justice. And that is an equal playing field for all persons in the eyes of the law. And that is a lesson that Mr. Cohen learned today, and it is a very harsh one for him. Thank you, very much.

UNINDENTIFIED MALE: Who is the candidate that you're talking about?

KHUZAMI: I'm sorry, one other thing. I'm sorry. I'm sorry. I'd also like to introduce -- I'm sorry, my fault. I really want to thank Mr. Sweeney, and James Rogner of the FBI and the IRS, and the agents who work for them. We do many, many cases with them. And their determination, and their fair dealing, and their vigor in which they pursue their cases is really inspirational to the prosecutors and my office. I cannot express the gratitude for the hard work that they did in this case. And that is -- United States attorneys, Andrea Griswold, and Nick Ross, and Rachel Maiman, and Tom McKay, as well as Ed Dispants, the deputy chief of the public corruption unit, and Russell Capone, the chief of the public corruption unit. For all of these people, I could go on and on about their many virtues and talents. But the one important thing is they all are satisfied with simply being known as public servants, prosecutors and law enforcement agents who are doing your job. Thank you, very much.

(CROSSTALK)

PERINO: All right, that was Robert Khuzami. He was the lead prosecutor against Michael Cohen. I believe we still have Bret Baier with us. And I'm sorry, Bret, that we interrupted you twice. But listened to those lawyers, but we have an amazing breaking news today. This is one for the record books. I will let you comment in on what you heard there from him. We're a nation of laws and they follow this case to its logical conclusion.

BAIER: Sure. The tax fraud, the bank fraud, all of those things nothing to do with candidate Trump, President Trump, his ties to candidate Trump, or Donald J. Trump, in general. The campaign finance violation, because the way he phrased it, that he was directed by the candidate to do that, and submitted that money to be repaid by the Trump organization, that is a direct liability. But I can already see the battle lines being drawn here legally because I just got an email saying that the fact that he pleads guilty to campaign violations does not mean that the payments were criminal violations, this did not go through trial, and you have people like former FEC chairman, Bradley Smith, saying that payment is not a violation, which is what Rudy Giuliani was saying in his interview earlier. So that, you can already begin to see the Trump lawyers, potentially, and others making a case that this would not be a violation. Obviously, the prosecutor is saying that it is. And Michael Cohen is on the hook for it right now.

PERINO: We haven't had -- heard from Dan Bongino yet. We let you ask the question, Dan.

DAN BONGINO, GUEST CO-HOST: Yeah. What a busy news day. Bret, Dan Bongino here

BAIER: Hi, Dan.

BONGINO: So, given the -- good to see you there, the speed of the news cycle, it's about 7 to 10 seconds long these days, you know they have an expression in corporate America on quarterly filings, you know, you just take a bath. Put all the bad news in on one filing. I mean, this all came out today. And your perspective, I mean, it is their even lasting political damage from this? A lot of this stuff was already baked into the cake with Trump supporters and knew some of these pasts. They, obviously, on the Manafort case are committed as I am that, yeah, there might have been crimes committed but there were ulterior motives by the prosecution for going after him. I mean, is there real political lasting damage from this?

BAIER: I don't think we know the answer to that. I think it's the beginning of an effort to really put the squeeze on some of these people and, potentially, where does that lead? We don't know. But we do know that the Mueller team seems to be moving a little bit quicker on a number of fronts. And the goal, as we're hearing here in Washington, is to get some kind of interim report out before the midterms, possibly by early September. If that's the case, all of these little pieces to the puzzle lead you to that, and we could be in for many other days like this where it's all breaking like this. But, you know, the Manafort stuff, you're right. It's not tied to collusion. It doesn't tied there. But, it is a win for the special counsel even though it doesn't deal with what he was mandated to do at the beginning.

PERINO: All right. Bret Baier, we appreciate it. We're going to head over now to Iowa, where a man in the United States, illegally, has been charged with the murder of Mollie Tibbetts. Matt Finn has the latest. Matt.

MATT FINN, FOX NEWS: Just a tragic ending to this mystery. Nearly a month after Mollie Tibbetts vanished on July 18th, police assured while telling us that 24-year-old Christian Rivera was just charged with first-degree murder in the death of Mollie Tibbetts. Investigators tell us that error was a surveillance tape that was crucial in solving this mystery and this crime. A surveillance tape that showed Mollie Tibbetts apparently running, they look at that surveillance tape and, apparently, saw Christian Rivera in his car or somewhere on that tape, they say that they questioned Rivera about the death of Mollie Tibbetts, he says that on the evening she went missing on July 18th, he was following her, we're not sure if he followed her first in his car or on foot, and that he eventually started to chase her and Mollie Tibbetts said, get away from me. She got off her cell phone and asked him to get away from her. He tells police at that point, he blacked out. Then this morning, nearly more than a month later, this man took authorities to the body of Mollie Tibbetts which is not far from here. It was found in a cornfield. Apparently, trying to be hidden by some extra cornstalks. Investigators say that the man has been charged with first-degree murder. And we're expecting to learn much more as this story develops.

PERINO: Matt, could I ask you something? I know you've been covering this case from the beginning. Early on, when the police had a press conference, they said at one point that they believed that the suspect was hiding in plain sight. Do you think that Christian Rivera was the person?

FINN: Well, we're told that he lived in this area for 4 to 7 years. So, he was perhaps a member of this community, maybe a well-known member of this community. So it is very likely, Dana, that he was hiding in plain sight. Authorities and families said that they think that there's a possibility that the person contributed to the search efforts. We can't confirm that. We don't know if Rivera was hiding out the entire time, or if he was going on with his daily life, Dana.

PERINO: All right. Greg, has a question.

GUTFELD: It's a dumb question, but he's an illegal alien here for 4 to 7 years, how does he pull that off? Was it -- is it one of those cases where no one seemed to check?

FINN: I'm not sure, Greg. It's a good question.

PERINO: Juan, any questions?

WILLIAMS: You know one of the interesting thing about this is that her cell phone and her Fitbit had been reported as missing. And I wonder if they have now recovered those items and, in fact, it helps. Although, it seems as if we have a confession in this case.

FINN: I believed that in the tail end of this press conference that just wrap up, one of the lead investigators did say that her Fitbit did help. She also had her iPhone on her. And what's interesting is that investigators were out in this area for quite some time, and they were questioning a farmer who lived nearby multiple times. And that farmer confessed or insisted that he had nothing to do with this. And we're trying to now confirm if the investigators are out here because maybe her Fitbit did ping out here, maybe her cell phone did ping out in the region where her body was found.

PERINO: All right. Matt Finn, thank you. Thank you for all of your reporting on this story. And it's a terrible end, and we certainly send our sympathies to the family. Her father, Dan, had been on television, very stoic, very calm, very trusting in the police the entire time, and certainly not the result they wanted.

BONGINO: No, I mean, this is every -- I've just said to you, every parent's worst nightmare. This is every human being worst nightmare. This is an innocent young woman with her whole life ahead of her. Never take another breath of oxygen again because of what this man has alleged to have done. But I think here -- in early in the case, there was a clue here that said to me that this guy may have been a suspect earlier than the police led on. And, obviously, they owe us nothing, they own the investigation everything. But, remember early on in the case where they said there may be some miscommunication here. Someone may have interacted with her.

PERINO: Yes.

BONGINO: .they may have assumed something. That says to me that they may have suspected this person early on, expected it was a kidnapping. And she may have still be alive because they're very strategic in their public communications through surrogates, in that case, one of the family members. So he may have been a suspect very early in the case.

PERINO: Do you have any other comments?

GUTFELD: Well, I -- I just, in terms of what is important, I think no one at the Trump rally tonight will give a damn about Manafort or Cohen, but this will probably be fresh in their minds.

PERINO: All right. Are they -- are they -- are telling me that we need to go? No, OK. Dagen, your -- your comment?

MCDOWELL: No -- this is something that resonates with every parent, every mother, father, sister or brother, everybody across this country. And people will be asking over the dinner table tonight, "Why was this man in this country? Why was this man -- and why are we still asking this question after Kate Steinle?"

And with the -- the rhetoric from the left of we need to get rid of ICE, Immigrations and Customs Enforcement, that we need to -- that -- that we need to get rid of this critical law enforcement unit within the federal government. That's what people are going to be talking about, rather than two white-collar criminals quite frankly.

WILLIAMS: I don't think that's right. I mean, we've had a major day of breaking news in terms of what I think are building blocks that are leading towards what I expect to be a tumultuous, stormy end of this month and beginning of September for the President of the United States. And I don't know how you can exceed that.

You know, the -- the horror that young woman went through in Iowa is not to be understated. But what we're seeing is it's becoming politicized, much like the Kate Steinle case was politicized. And I remember when people were so disappointed that a jury found that the man who was involved with her murder was not convicted of anything except -- was he convicted of manslaughter, maybe? I don't know. But he was not convicted of murder.

PERINO: I don't (ph) remember.

WILLIAMS: And I -- so, what we're looking at though, I think, is the politics of it. And the politics of it play, in a way that, I think, you're going to see tonight the president focus again on immigration. That's -- that was long stated. His theme going into the midterms is what he wants to focus on to stir up his base; and, I imagine this will play to it.

PERINO: But (inaudible) .

GUTFIELD: But the thing is, if he's right .

WILLIAMS: There's (ph) no getting away from what happened in the (ph) courtroom.

GUTFIELD: . if -- if -- if an incident occurs that actually is part of something that you've been talking about, that's not about playing into your base, or saying, hey -- hey -- hey, I'm right. It's actually just saying, like, this is a concern. People confuse concern with politics. Like, if you could actually be concerned about what -- about preventing such things like this happening, that's not a political stance, it's saying, like, this is a problem.

PERINO: The other thing about the Kate Steinle murderer, I guess, I -- and I don't know if I can call him that because I don't remember what he was found guilty of in the end. But he was (ph).

GUTFIELD: Like a deflected (ph) bullet.

PERINO: . deported several times and had returned. We don't know that about Christhian (ph) Rivera.

BONGINO: Yes, and -- and .

PERINO: Well (ph), we -- we know he was here illegally, but I don't know if he was back and forth or if he had a record.

BONGINO: . I agree with you, Greg. And I -- Juan, I think you're reading this all wrong. It -- it's not politicizing an issue for American parents, and people who have friends and neighbors to look at a case like this and say, listen, let's just look at this rationally. Yes, not every person who enters the country illegally is going to go on to commit other crimes, matter of fact, very few will. I can see that point.

The bottom line is, 100 percent should have not have been here. And if weren't here, this woman -- if the allegations are true -- would be alive. That's not irrational or unreasonable. And it's certainly not politics for someone to see that. And Donald Trump is being an advocate for their cause saying, listen, we've got to get control of this.

MCDOWELL: And I'll push back. I sit here and listen to that, listen to Matt Finn talk about Mollie Tibbetts and tears well up in my eyes. It is unavoidable. And you know what? Those tears aren't red or blue, Juan, they're from the heart. And that's what -- I mean, it's from the heart and the gut.

So I don't think it's -- I -- I don't think that you can call it politicization. And saying that people will be more torn apart by this than Michael Cohen's guilty plea and -- and .

WILLIAMS: I didn't say .

PERINO: I think that there's plenty of room for people to have

MCDOWELL: Right, exactly.

PERINO: . thoughts about all of these things.

MCDOWELL: It's not .

WILLIAMS: . Yes, so I think that .

MCDOWELL: . one or the other.

PERINO: But Juan, we need to get back over to .

WILLIAMS: OK.

PERINO: . Peter Doocy, who is at the Manafort trial with an update for us. Peter, you've been there from the beginning, as well as Matt Finn on that other case. So we'll give you the floor now.

DOOCY: And Dana, we have some new information about the way that the judge learned that the jury was not going to be able to reach a verdict on 10 of the 18 counts. So -- and I'm just going to pull this up on my computer right now. They -- the jury sent a late afternoon note to the judge where they said: after exhausting all options, we have reached a verdict. We are not able to reach consensus on 10 of the counts.

When that happened, the judge then brought the jury into the court room and he asked them one at a time in the jury box, are you sure you're not going to be able to -- something to the effect of, are you sure you're not going to be able to reach a consensus on this count, on this count, on this count. And one at a time, the jurors said, no, they were not going to be able to.

So at that point, the judge said that he was going to declare a mistrial on those 10 counts. And then, they got into the eight guilty verdicts against Paul Manafort for filing false tax returns, not properly identifying foreign accounts and also for bank fraud. A few minutes later, Mrs. Manafort exited the courtroom. She didn't say anything to us.

But Manafort's lawyer, Kevin Downing, did stop. And he said that Manafort thinks he got a fair trial but is still reviewing all of his options because he is disappointed with the way that things shook out for him.

And don't forget that even if Manafort had been acquitted on all of these charges, he would still remain in a jail cell tonight because he is facing charges for -- similar charges in Washington, D.C. and that trial doesn't start until September. And the reason they're keeping him in solitary confinement for most of his days is because they're accusing him of tampering with a witness in that case. Dana.

PERINO: So, Peter, I have a couple of questions. Does Manafort keep the same lawyers for the trial that comes up in September? Does he have to move from the jail cell he's in now to one in Washington, D.C. since that trial is being held over there?

And then, my last question is the jury has asked that the judge not reveal their names. And I don't think the jury owes us anything more, they have done their job. But because it couldn't come to a consensus on those 10 counts, will we ever know why or what the sticking issue was?

DOOCY: So, I'll go in reverse order, or I will try to. The judge told the jurors that he can't stop them from doing an interview and revealing what happened, but that he thinks that it would be better for them if they kept things confidential.

However, there is not going to be a list from the special counsel or from the Eastern District of Virginia Court that tells us who the 12 jurors were or who the 4 alternates were; we're not going to get that. The judge just made sure before he dismissed the jury, you -- you don't want to me release your names, you want them to stay under seal? And they all said yes.

As for where Manafort is going to stay, he's going to remain -- to the best of our understanding -- at the Alexandria Detention Center. Which is a place that they keep a lot of hardcore terror suspects, including the -- you know, terror suspects who are captured on battlefields overseas and are brought here because they're considered very high risk. So we understand that he is going to stay there.

And again, the only reason that he's there is because of his -- because he's accused of tampering with a witness in the case before a federal judge in Washington, D.C. And it is going to be his same legal team. People might take on slightly different roles. But his legal team that represented him here is starting to lay the groundwork. They are in contact with the prosecution about evidence in the next case.

And it is worth pointing out that they've got five people on the Manafort defense team. The Mueller side has 17 people. Dana.

PERINO: All right, Peter. We're going to maybe take it around the table here. We're looking at Air Force One. The president has landed in the beautiful town of Charleston, WV, there he is, the president there for a rally tonight.

He is trying to rally for the Republican Senate candidate there, who's in a tough race against the Senate incumbent, Democrat Joe Manchin. There's the president there for this event tonight. He just announced also that the Clean Air Act -- or, the -- the new clean air proposal called ACE, affordable energy for Americans or something like that.

Juan, is going to be the next (inaudible). So the president landing here, my guess, Juan, is that he will not mention either Michael Cohen or Paul Manafort in tonight's rally.

WILLIAMS: You know, I listened very carefully as you were talking, Dana. And you can hear the reporters on the tarmac screaming at the president about Manafort and Cohen. So it's all around him as he goes through the greeting. The question is how does he handle it in his speech?

Now, you suggest maybe he doesn't mention it. That he instead focuses, for example, on illegal immigrant accused of the murder in Iowa. But I think Donald Trump is so surprising and so capable of coming out .

PERINO: Here's the president speaking.

(BEGIN VIDEO CLIP)

PRESIDENT DONALD TRUMP: (inaudible) I feel very sad about that. It doesn't involve me but I still feel, you know, it's a very sad thing that happens (ph). It has nothing to do with Russian collusion.

This started as Russian collusion. This has absolutely nothing to do -- this is a witch-hunt, that it's a disgrace. But this has nothing to do what they started out, looking for Russians involved in our campaign; there were none. I feel very badly for Paul Manafort.

Again, he worked for Bob Dole. He worked for Ronald Reagan. He worked for many, many people and it's (ph) just (ph) the way it ends up. And it was not the original mission, believe me. It was -- it was something very much different. So, had nothing to do with Russian collusion; we continue the witch-hunt. Thank you very much.

(END VIDEO CLIP)

PERINO: All right. The president then stepping off of Air Force One. He's in Charleston, West Virginia. About to go to a rally tonight. I think getting his statement about Manafort out of the way.

We are hoping to get John Roberts back up pretty soon. And Henry, I think as he's available. Maybe not. But Michael Cohen not getting a mention there. What did you make of the president's comments just now?

They were brief but he stayed on his message that it is a witch hunt and a disgrace and he feels very badly for Paul Manafort who was just found guilty by a jury of his peers on eight counts.

HENRY: Well, it's significant Dana, because the Manafort case is kind of a better situation for the president as bad as it is for Paul Manafort and the fact that he's now facing major prison time.

As the president pointed out, he's right. This was not about Russian collusion. It was bank and tax fraud long before the Trump campaign going back roughly a decade. So yes, the Robert Mueller investigation goes forward.

The Special Counsel is still -- has a wide open federal probe that could still damage the president and other people around him. But the Manafort verdict -- verdicts do not directly impact the president.

The Michael Cohen situation could actually be much worse for the president. He has now pled guilty to federal crimes in which the president could be -- I underline could be because there has been no charge against the president.

No hint of a charge. But he could be a co-conspirator because you have Michael Cohen saying that he broke campaign finance laws at the direction of a candidate. And everyone knows that candidate is President Trump, number one.

And number two, you have Michael Avenatti, the attorney for Stormy Daniels, of course, now say to Rudy Giuliani, buckle up buttercup, that's what he's saying because you've mishandled this case.

And now they believe, Avenatti and his team, that because of Cohen pleading guilty, now the (ph) stay in the separate private civil suit against the president will be lifted and that they may get a deposition from the President of the United States in the Stormy Daniels case.

They'll fight that, of course. Maybe they'll never get that deposition. The president's legal team will be fighting that. But let's not forget what happened in the Clinton administration.

It was not just criminal cases that were problematic; it was private civil suits and depositions, and allegations of lying under oath in a private civil suit with Paula Jones that led to impeachment.

So I'm not saying we're going there but I'm saying that the Cohen situation could be much more legally and politically perilous for the president and that may be why he's not weighing in. The Manafort case allows him to jump in and say this is a witch hunt guys.

PERINO: All right. And Henry, thank you. And of course you know the history of that because you were there reporting it back then and I remember you well from that time. OK. We have John Roberts who is available to us. He is at the White House. I believe you have some new developments John?

JOHN ROBERTS, FOX REPORTER: Yes, you know I had spoken with Rudy Giuliani just as the whole news of the plea deal for Michael Cohen was coming down. He -- he didn't seem worried about it at all, telling me that none of this is connected to the president because Cohen had said on multiple occasions that the president knew nothing about the payment to Stormy Daniels.

But now we have in this plea agreement information that in two payments to silence women, according to the deputy U.S. attorney, Robert Khuzami, they were done at the behest of a candidate and in coordination with the candidate to silence two women.

One was a payment of $150,000, which was called an illegal corporate contribution. You'll remember that Karen McDougal, the ex-Playboy playmate was paid $150,000 by the national inquirer for her story.

And then, of course, we had the payment of $130,000 on October the 27th to Stormy Daniels. Well Giuliani told me a short time ago that none of this was connected to the president but Cohen said in court documents that he signed that he did this at the direction of and in coordination with a candidate for federal office.

Now unless there's some candidate for federal office that we haven't heard about that Cohen had been working with that would suggest that President Trump might be that federal candidate.

And let's not forget that Cohen has a recording of himself talking with President Trump about a possible payment to Karen McDougal. A payment that the president's attorney said was never made.

Well, it wasn't made by President Trump but there was money that was exchanged between the national inquirer and Karen McDougal. So putting together the pieces of this as Ed Henry was saying, this guilty plea by Michael Cohen could be problematic for the president.

It's not about the Russia investigation but Cohen says these payments were made to influence the outcome of the election. So you know these Special Counsel investigations have a habit, as you know from your time here at the White House Dana, of going in directions that they were never intended to at the beginning.

And finding something where it's believed that there was nothing there before that had nothing to do with the original mandate and it looks like we could be moving in that direction. Dana.

PERINO: John, I have a question though. So if Michael Cohen apparently says he did this on the behest of a federal candidate and if President Trump's lawyers say well it wasn't us then where's the remedy? I mean maybe that just remains like -- to me that's unclear what happens in that instance.

ROBERTS: Well, I mean here's the thing that we don't know and we don't know partially because we don't have full court documents yet. Did Cohen only tell prosecutors that he did at the direction and in coordination with a federal candidate?

Or did he tell the prosecutors who that person was and federal prosecutors in this plea agreement have, for the moment at least, left that person anonymous because it may become part of another or bigger case.

We -- we don't yet because we don't have those documents in hand. But it leaves an open question as to who is telling the truth here. Was Michael Cohen telling the truth when he said that President Trump didn't know anything about this payment to Stormy Daniels.

Or -- are -- you know is it this idea that President Trump knew all about it. The truth. We just don't know at this point.

PERINO: We certainly don't. Does anybody else have any questions? Dagen?

MCDOWELL: John, just really quickly because again, this was not an investigation led by the Mueller team. It was handed off to the southern district of New York. So it was completely handled by them.

So is there any indication of what coordination has been with the Mueller team? What information they might have access to past, present, and future?

ROBERTS: Well, I mean the Mueller investigation is going to have, probably I would think, access to all of the information that the prosecutor in the southern district of New York does because it's all of the Department of Justice.

What we don't know at this point is -- is whether or not this is going to get kicked back to Mueller and it have got kicked back to Mueller in the sentencing phase of things. We were told going into this, by sources familiar with the plea deal that Cohen had agreed to plead guilty in exchange for three to five years in prison.

He's facing counts, these eight counts, which could land him in prison for 65 years and the judge left it ambiguous in -- in court. He said the sentencing would be on December the 12th.

And -- I mean the indications were from the court that Cohen could be up for the all of the sentences on all of the counts. So there's another disconnect here as well between what we were told about the parameters of a plea agreement and now leaving this open, it would seem by the judge.

Now, could that mean that federal prosecutors may use the leverage of 65 years in court against Michael Cohen to fill in some of the details there. But again Dagen, when you look at either the Manafort case or you look at the Cohen case, this has gone far of field of what the initial mandate of the Mueller investigation was.

And that was to look into whether or not there was collusion between the Trump campaign and operates in Russia to influence the outcome of the election. But this Cohen plea deal would suggest that there was an attempt to influence the election, at least on his part by making payments to these two women who we believe are both Karen McDougal, the ex-Playboy playmate.

And -- and Stormy Daniels to keep them quiet so that they didn't come out with anything that was departmental to a candidate and the only candidate that they would have been talking about was Donald Trump prior to the election.

So this thing is kicked into an entirely different direction and I think by virtue of this Cohen plea agreement kicked into a much higher gear than it was before.

PERINO: Well they said they wanted to wrap it up by September 1st and its August 21st so we're getting closer. One last question for you from Juan Williams.

WILLIAMS: So John, the -- in both cases Manafort and Cohen, it would look like leverage now exist for Robert Collin. But I'm not clear on exactly how he uses that. What -- let's move the story forward.

What happens next in terms of Mueller trying to reach out to Lanny Davis who was the lawyer for Michael Cohen or reach out to Paul Manafort's lawyers at this point and say 80 years is a long time gentleman. This man is not a young man. Let's make a deal.

ROBETS: I mean I think that there is -- there is a lot of leverage there. If you're Robert Mueller and you say to Paul Manafort's attorney Kevin Downing, look your guy can go away for the rest of his life but we're prepared to offer him leniency if he helps us out with this investigation.

And the same entreaty (ph) could be made to Michael Cohen unless when we see -- finally see this plea agreement; they did nail down this idea of three to five years, which we were told going into this they did.

In that case, Mueller wouldn't have a whole lot of leverage. But if you're dangling lengthy prison sentences, which mean you'll likely die in prison over two individuals who used to living lavaged life styles in -- in big cities. That's an awful lot of leverage to get somebody to cooperate. Now it's unclear what either of them might know about the topic at hand, which again, was Russia collusion or whether there was obstruction of justice. But he does have a pretty bit carrot to dangle in front of their noses.

PERINO: All right, John Roberts at the White House. Thank you for that reporting. Thank you to Henry, and to Peter Doocy. And of course to Matt Finn out in Iowa. So remember when August was slow? There used to be there were years when that was the case. Dan, let me just get our general thoughts in the time we have remaining.

BONGINO: I just can't believe we're talking about this. I mean, you've got a nuclear crisis in North Korea that's still ongoing. You've got a massive opioid crisis in middle -- frankly everywhere. You've got a manufacturing -- hopefully a renaissance at some point, but not now. You've got towns that have been hollowed out. And what are we talking about, taxi cab confessions in the case of Cohen. And Paul Manafort's work in a tax evasion charge for some lobbying stuff he did in Ukraine. I mean, this is incredible.

PERINO: I was just told that we have a mug shot of the alleged murder suspect, this is Christian Robera. You heard Matt saying earlier, reporting that the police have said that they believe that this is the man who murdered Mollie Tibbetts, he was here in the United States illegally. We don't have much more information about him or his background or whether he had been back and forth in the United States. It's believed that he lived in that area of Ohio for the last four to seven years...

UNIDENTIFIED MALE: Iowa.

PERINO: Iowa, excuse me. And this is the first we are seeing of his mug shot. Dan, the police as you were saying earlier, they -- you think that they were probably aware of him from very early on and it might just have taken a while for him to come forward?

BONGINO: Yeah, I mean, think about it. I left federal law enforcement five years ago. We live in a surveillance society now, luckily most of it isn't government operated -- it's private cameras. They're everywhere, we have them here. You're not going anywhere in America right now without leaving some digital image footprint somewhere, and that's five years later. You know, this guy if he did what he's alleged to have done -- I don't know how this guy thought he was going to get away with it. There's a camera somewhere in America that's catching you doing something.

PERINO: Not only that, but I was thinking about Greg -- you talk a lot about how technology has helped solve a lot of crimes. And it seems that her FitBit and her iPhone were both helpful in trying to at least try and find out what happened to her that night (ph).

BONGINO: Yeah, technology helps solve crimes and politics helps create crimes. Because we are -- we are in a situation where we are too scared of being called a bigot just by saying maybe we would have better border enforcement or take, or actually have borders and really immigration policy, but then you'd be called a bigot so you got sanctuary cities, and if you come out against sanctuary cities you're a bigot.

So if you do this story you're called political. To Dan's point -- I'm a selfish person, my life is not reflected by the news, puts me in the same group with 330,000,000 Americans. I know that Cohen isn't squeaky clean, I know Manafort isn't squeaky clean. Hell, I know Trump isn't squeaky clean. That's filler for local radio.

The fact is this is not about these guys, it's about reversing an election. That's all this is. And people are just getting so wrapped up in it, there's real stuff going on as Dan's talking about. But it's not breaking news that Cohen is a fixer, come on.

PERINO: Well, but there is an investigation, Dagan. The investigators followed it where they did. I don't know as much about Cohen, but on the Manafort thing, like, he had been under investigation for quite a while, and he had to pay the piper.

MCDOWELL: The Manafort trial and following it closely played out just like every white collar conviction that I've ever witnessed, where you had -- they portrayed him as -- dressed like a crook with the $15,000 ostrich jacket and the more than $1 million spent on gaudy suits.

And then you have his business associate testify against him. It was pretty clean cut, and the prosecutors did a good job on him, but I will point out he's got another trial coming up in September in the District of Columbia. They -- nothing that he happened that he was convicted on was related to his work with the Trump campaign. Maybe his work with the Trump campaign comes out in some way during the second trial, but again, this is an isolated.

PERINO: But maybe not, and it doesn't have to, right? The thing as I understand it, Dan, if you're the investigator and you like, "oh look here" and the other thing that's strange to me is that he -- Manafort, is the swamp (ph). I mean, that's what President Trump ran about -- ran on draining the swamp, people who were stealing from the American people and they were basically using their jobs in Washington to get really cushy contracts.

BONGINO: The left is actually martyred Paul Manafort. He was brought in for the Trump team because of his swampy skills. To do what? To wrangle delegates. Everybody understood he'd been involved, Trump doesn't run from it, he says he's been involved with these campaigns -- Bob Doland (ph) and these others in the past. And what the left has essentially done by constantly attacking Manafort is martyred a guy who I agree, Dagen (ph), when you look at the case on his face, it is not necessarily a sympathetic figure. But how do you think this be 28 is working in public opinion, you may have legally got him, but in the court of public opinion, this is not a winner for them at all.

PERINO: Well actually there was a (inaudible) poll yesterday, Juan, that showed that from June to August, there has been no public opinion movement on Manafort either way. That everybody has already begged (ph) in on how they feel about the republicans, the democrats it's just -- they are locked in. It might - I don't know if the guilty plea - or guilty verdict will change that, but that's what they found.

WILLIAMS: Right so I think that the news obviously will shake people. People are going to read about this, they're going to hear about it, they're going to watch us on Fox talk about it. I think you're going to have some kind of shape.

But I think your larger point is exactly right. A lot of people, especially Trump supporters will potentially see this as more of the same. As a consequence, not necessarily move away from the president. I will say this in response to what I'm hearing at the table, I think that there is a link. Remember Manafort had worked for candidates in the Ukraine, people who had been supported and at some point subsidized by the Russians And so there is a link between the Russians, Manafort being at the campaign, Manafort being in the Trump Tower meeting with a Russian lawyer. And now the question is does Manafort have more to offer to prosecutors who are focused on Russian collusion? President Trump on the tarmac in West Virginia where he just landed makes the case, do you know what? This is a witch hunt. This has nothing to do with collusion.

PERINO:I always go back -

WILLIAMS: -- I don't think so.

MCDOWELL: -- and look at the nine ace (ph) during the Ken Starr investigation of Bill Clinton. People still, to this day, feel fondly about Bill Clinton. They remember the good 'ol (ph) days. They don't remember the Starr report because they felt safe.

PERINO: Well because -

(CROSSTALK)

PERINO: -- republicans overreach.

MCDOWELL: -- if Americans feel financially secure and actually safe which are two tent poles (ph) in Trump's strategy, that is what they will remember. The stock market fell almost 20 percent from July to the day that the Ken Starr report was released. It made all of its gains back by the end of that September. No recession, stock market rebound even during impeachment proceedings because the economy was healthy.

PERINO: That's a good point, but I would also say that the republicans did overreach on Clinton and it just turned to the American people off. They're like, why are you going guy? Or maybe they - so (ph) they knew who they were getting.

GUTFELD: We also made this point before, that what is happening when you are just constantly thinking about that one thing, you have a 9/11, the Al-Qaeda was forming, Bin Laden was around, was it '92 or '93, they hit the Trade Tower first? All of the stuff was present, but we were dealing with this other stuff.

PERINO: Also it was just several months later after that the Internet bubble burst. Then we went into that recession.

MCDOWELL:'98 and that bubble burst in early 2000. We had a little time there. It was a very short-lived recession. We came out of the recession and 2001, about less than two months after the 9/11 terrorist attacks Let's talk - exactly - let's talk about the resiliency of the American people.

BONGINO: Can I bring up one point? I've heard you say on the show, and you are right, that every - we have -- there are sides now. It is like the Jets and the Sharks. I think one, you are reading this all wrong. Your side, you just adequately laid out. You said we believe in collusion, people believe in collusion, Manafort may be evidence of that. The other side sees it as a set up and a framing operation. And those sides don't mix it all, and that is why I disagree with you. I don't think this is going to impact Trump's public approval or Manafort's, not one bit, they just see it as more evidence of the set up.

WILLIAM: Yes, that's what I said, Dan, I think a lot of this is baked in, but I think it's baked in because Trump supporters -- what did Trump famously say? "I could sue the man on fifth avenue and my people would not back off me."

GUTFELD: And his critics said he probably will kill their grandparents.

(LAUGHTER)

WILLIAMS: I think there are people in the middle. See this is where the midterms are going to be decided, I think you talk about people living in the suburbs, people who think, coming to Dagen's point, there is instability now in the White House. This president is under tremendous pressure from all sides.

PERINO: But the economy is roaring, we've got a full (ph) market --

MCDOWELL: Yes, people's wallets are fat. Wages are growing in the fastest pace in ten years, and they're out and they're worried about their families, and they feel -- as long as they feel safe and secure, and that is what Trump is delivering.

PERINO: All right, that was quite a "Five," not our usual show but we had a ton of breaking news. We appreciate you sticking with us. Stay tuned now for Fox News on the latest of all of the developments in the Manafort verdict, the Cohen case, President Trump's rally at 7pm tonight.

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