'That’s why he’s freaking out': MSNBC host explains why judge’s 'fraud finding was so critical'

Katie Phang, host of MSNBC's The Katie Phang Show on Wednesday explained why Donald Trump "is freaking out" over the $464 million judgment in New York Attorney General Letitia James' civil fraud case against him.

The former president has less than a week to come up with the nearly half billion-dollar bond to secure a half billion-dollar bond. James has said she will begin to seize his assets if he does not.

During a conversation with Deadline: White House guest host Alicia Menendez, Phang emphasized that the attorney general is unafraid of the MAGA hopeful — who is known to try to intimidate prosecutors in all of his cases.

READ MORE: 'Next up — property seizures': Experts analyze 'unbankable' Trump’s $464 million bond crisis

Former Federal Bureau of Investigation (FBI) counsel and legal analyst Andrew Weissmann chimed in the conversation, noting that he thinks, on Monday, Trump will "face Letitia James starting to put liens on any and all assets that they can find."

According to Cornell School of Law, "A lien is a security interest or legal right acquired in one's property by a creditor, or lienholder. A lien usually prevents sale of the property until the underlying obligation to the creditor is satisfied."

Phang added, "He can't discharge, in bankruptcy, fraud, either. So if you have debt that's obtained through a fraud judgment, which is why that fraud finding by Judge Engoron is so critical here, because it permeates all the counts that Letitia James was pursuing against Trump and the other defendants. And I want to underscore that as well: We talk about Donald Trump obviously. He's the larger than life presence in terms of the conversations we're having. But remember, it's Eric Trump, Don Trump Jr, it's the [Chief Financial Officers], the other people that were high-level business officers. It's the entities themselves."

She continued, "So it's not just the people — it's the businesses. And what do the businesses hold? You have a holding company that has an asset that is Mar-a-Lago. You have these LLCs, these limited liability companies, that have as assets — as special purpose entities that were created to hold certain things — they have real property. So just because you have them in the name of a business doesn't mean they go away."

READ MORE: 'Easy mark': Why Trump’s $464 million bond failure makes him a 'massive national security risk'

The MSNBC host added, "And, furthermore, we have domestication. This is a New York-based judgment. we have property, if you're Donald Trump, in other states. That New York judgment can be domesticated in a state like Florida for Mar-a-Lago. In a state like New Jersey for Trump Bedminster. It's not like it's only limited within the four corners of the confines of New York. So Letitia James will hunt this stuff down. That's why you're seeing him implode. That's why he's freaking out. She has the means, the manner and the wherewithal and, frankly, the gumption to go after him."

Watch the video below or at this link.

'That's why he's freaking out': Legal expert explains why judge's 'fraud finding was so critical'www.youtube.com