'Rudy was making a ton of money': CNN panel digs into grand jury subpoena investigating Giuliani's business

Reacting to news that investigators are taking a hard look at Rudy Giuliani’s consulting business, as well as donations made to America First Action, a pro-Trump ­super PAC set up by his advisers and allies after his election, a CNN "New Day" panel dug into the latest legal problems facing the former New York City mayor.

CNN host John Berman kicked off the segment with a listing of the crimes Giuliani is being accused of.

"New questions this morning about Rudy Giuliani's potential legal exposure," Berman began. "CNN has reviewed a grand jury subpoena that indicates federal investigators are looking into Giuliani's personal and business relationships with two of his associates who are under criminal investigation."

"This includes questions about conspiracy to defraud the United States, obstruction of justice, making false statements to federal officials, wire fraud, money laundering. the list goes on here, violations of federal election laws that prohibit the use of straw donors and foreign money in u.s. elections," he continued before addressing former prosecutor Elie Honig. "Again, right now, it's just his associates who are under investigation, but his name comes up in the subpoena, Elie, and there's that long list there. How worried should he be?"

"That subpoena is an interesting tell for me," Honig admitted. "When you do a subpoena in the Southern District of New York, there's a line of what are you investigating? We would just list conspiracy to tell the world and the target nothing -- as little as we could. The fact that they listed out all those statutes that you just read to me is a warning shot, and it's something that would concern me a lot if I was representing Rudy Giuliani, and those crimes are largely the same crime that [Giulaini associate Lev] Parnas is charged with."

Co-host Alisyn Camerota jumped in to say, "I don't know if you need to be a legal scholar like eEie to connect some of these dots, but Rudy Giuliani was making a ton of money from Fraud Guarantee, Lev Parnas's company as was [Donald] Trump's legal advisers, Joe diGenova and Victoria Toensing."

According to Washington Post reporter Rachael Bade, "I was going to say rule number one of journalism is follow the money, at least as investigative journalism."

"This just shows that there's a whole other side of the Ukraine story that impeachment investigators in Congress haven't even touched," she continued. "Prosecutors are clearly casting a very wide net here. They see potential financial crimes, multiple financial crimes here, campaign interference, and you know, this is -- these are questions that Democrats haven't even asked on Capitol Hill. So again, we just talked about how fast Democrats are moving. I have talked to Democratic lawmakers who do want to look at this side of the Ukraine controversy, but if they are trying to get impeachment done by the end of the year, this is another area of, you know, where they haven't overturned stones and haven't investigated."

Watch below: