WATCH: CNN Legal Analyst Admits Embattled Fed Official Is In Serious Trouble

CNN senior legal analyst Elie Honig appeared to side with President Donald Trump in conceding that Lisa Cook, the embattled member of the Federal Reserve’s Board of Governors who is attempting to keep her job after being fired by President Donald Trump over fraud allegations, is in serious legal trouble.

In a letter sent to Cook earlier this week, Trump argued that he has the power to fire her under the Federal Reserve Act due to allegations of mortgage fraud laid out by William J. Pulte, Director of the Federal Housing Finance Agency.

“For example, as detailed in the Criminal Referral, you signed one document attesting that a property in Michigan would be your primary residence for the next year.

“Two weeks later, you signed another document for a property in Georgia stating that it would be your primary residence for the next year,” the president continued. “It is inconceivable that you were not aware of your first commitment when making the second. It is impossible that you intended to honor both.”

Trump went on to claim that Cook’s “deceitful and potentially criminal conduct” exhibits “the sort of gross negligence in financial transactions that calls into question your competence and trustworthiness as a financial regulator.”

Cook has denied the allegations and has claimed that the president has no power to fire her, setting up a high-stakes legal battle between the White House and the Federal Reserve. The embattled board member has enlisted the services of high-powered Attorney Abbe Lowell in order to represent her in her lawsuit against the Trump Administration.

While the fight over the president’s ability to fire Cook will likely end up at the U.S. Supreme Court, Honig argued during an appearance on CNN Saturday that the allegations levied against the federal reserve official are indeed damning. “There is some suspicious activity here that’s really problematic by Lisa Cook. Let me just sort of try to bottom line it,” the legal analyst told his fellow panelists.

“There’s three properties, OK? Within a two -week stretch, she purchases, she gets a mortgage on a place in Michigan and says that’s her principal residence. Two weeks later, she gets a mortgage on a place in Atlanta, in Georgia and says that’s her primary residence. And now there’s a third place in Cambridge that she said was her secondary residence, but she’s actually renting it out.”

Honig went on to note that doing this would allow Cook to qualify for lower interest rates and better tax benefits. That can be worth tens or hundreds of thousands of dollars,” he said.

The legal analyst went on to state that he finds it notable how Cook has yet to give any concrete answers on her conduct, blaming the discrepancies only on an “error,” which he finds especially bizarre since Cook is the plaintiff in her suit against the Trump Administration.

“And the claim that this might be clerical error or just a mistake, that’s not going to fly because Lisa Cook is one of the most established, accomplished financial and economic experts in this country. And this is not just like any, old person,” Honig went on to say.

“Look, when you do a mortgage, there’s all sorts of paperwork flying and terms, and maybe you can get confused or lost. I don’t know if you’re going to buy that from Lisa Cook.”