'Trump may well face charges' after Supreme Court gave prosecutors access to financial records: Legal experts
Donald Trump (Olivier Douliery:AFP)

President Donald Trump could potentially face charges after the Supreme Court dealt him a loss in Trump v. Vance .

The ruling gives Manhattan district attorney Cyrus Vance Jr. the go-ahead to subpoena Trump’s accounting firm as part of his investigation into possible tax crimes involving hush money payments to his mistresses, according to attorneys Norm Eisen and Bassetti in Just Security.

"Trump has significant state law criminal exposure in connection with his hush money payments (for which his fixer Michael Cohen has already gone to jail on federal charges) — and more," the pair wrote. "Trump cannot pardon himself for state law offenses on his way out the door. And the Justice Department’s position that a sitting president cannot be indicted does not bind New York state authorities."

The Supreme Court remanded the case to a trial court to clear up some issues before Vance may proceed, which could delay any actions until after the election, but Eisen and Barretti say the ruling -- and another in Trump v. Mazars USA -- was a "stunning defeat" for the president.

"Trump may well face charges, though he may also be out of office by the time he does," Eisen and Barretti wrote. "Much will depend on how briskly the trial court moves on remand, on whether there are emergency or other appeals, and how quickly they are brushed aside (as they will be)."

"The day brought a dramatic loss for Trump in the Vance case and a nuanced defeat for him in Mazars that will play out more slowly and partially," they added. "Added together: Trump is going to face accountability, possibly criminal. After today’s rulings, the fight for justice goes on. That is a glass well over half full."