On Friday, federal prosecutors in Manhattan and the special counsel, Robert Mueller, delivered a potentially devastating one-two punch against President Trump. Coming late in the day, they made for bracing end-of-the-week reading.

Calling on the court to impose a sentence of substantial imprisonment against Michael Cohen, the president’s former personal attorney, prosecutors in the Southern District of New York stated that Mr. Trump, the Trump Organization and the campaign were all directly involved in an illegal scheme to silence two women who claimed they had affairs with Mr. Trump. Prosecutors wrote that payments made by Mr. Cohen and other actions were taken “with the intent to influence the 2016 presidential election” and pursued “in coordination with and at the direction of Individual 1” — that is, Mr. Trump.

The Trump Organization’s reimbursements to Mr. Cohen for payments were fraudulently disguised as legal fees — and, according to the memo, were approved by senior executives at the organization. The New York prosecutors also disclosed that they are investigating additional unspecified matters involving Mr. Cohen and, presumably, the Trump Organization. In light of these disclosures, the likelihood that the company and the Trump campaign face charges is now high.

Although President Trump may avoid a similar fate because the Justice Department is unlikely to indict a sitting president, he could be named as an unindicted co-conspirator, as was President Richard Nixon, or charged if he leaves office before the statute of limitations runs out (most likely in 2022).