'Straightforward fraud and embezzlement': Ex-prosecutor breaks down Bannon's criminal liability for border wall scam
Former White House chief strategist Stephen Bannon. (AFP/File / Michal Cizek)

On CNN Thursday, former federal prosecutor Elie Honig walked through the federal fraud charges against former Trump adviser Steve Bannon.

"So this is essentially a massive embezzlement that is being alleged here, and a fraud," said Honig. "First of all, is in the way that the defendants, including Steve Bannon, who is one of the four charged defendants, marketed this Build the Wall operation. They essentially marketed it as an operation where, if you donated this money, is going to be used to build the border wall, but instead — this is the embezzlement part — Bannon and the others essentially pocketed the money, they used it to fund their own lavish lifestyle."

"It's a sensational case, involving very politically-charged issues relating to the wall and a well-known person, Steve Bannon," added Honig. "But in a way, it's a straightforward fraud and embezzlement case, and the evidence, looking at the indictment right now, looks quite strong to me."

Watch below: