The greatest threat to President Trump is not the investigation by special counsel Robert Mueller but other probes by U.S. prosecutors in New York, said Alan Dershowitz, a Harvard Law School professor emeritus.

Dershowitz told ABC News Chief Anchor George Stephanopoulos on “This Week” Sunday that the biggest legal danger to the president is from an investigation by the Southern District of New York in Manhattan.

Federal prosecutors in New York are investigating whether the Trump Organization was involved in campaign finance violations connected to former Trump lawyer Michael Cohen. In connection to that probe, they have granted immunity to the Trump company’s chief financial officer, Allen Weisselberg.

“I think [Trump] has constitutional defenses to the investigation being conducted by Mueller,” into Russian interference in the 2016 election, said Dershowitz, who is author of the book, “The Case Against Impeaching Trump.”

“But there are no constitutional defenses to what the Southern District is investigating,” the legal scholar said. “I think the Southern District is the greatest threat.”

“Last week proves … that the special counsel is the least important element in this investigation” into the president and the 2016 campaign, Dershowitz added, referring to former Trump lawyer Michael Cohen’s pleading guilty in New York on Tuesday to tax evasion and campaign finance violations.

Cohen admitted in his plea to arranging hush money agreements for two women, Stormy Daniels and Karen McDougal, who allege they had affairs with Trump prior to the November 2016 election. The president has denied both women’s allegations.

Cohen also said in court that he made those payments “in coordination and at the direction of a candidate for federal office,” whom his attorney later identified as Trump.

Federal prosecutors in New York are considering possible charges against the Trump Organization in relation to the Cohen hush-money agreement with Daniels, an official briefed confirmed to ABC News on Friday. No charges were imminent.

“Last week proves … that the special counsel is the least important element in this investigation” into the president and the 2016 campaign, Dershowitz added, referring to former Trump lawyer Michael Cohen’s pleading guilty in New York on Tuesday to tax evasion and campaign finance violations.

Cohen admitted in his plea to arranging hush money agreements for two women, Stormy Daniels and Karen McDougal, who allege they had affairs with Trump prior to the November 2016 election. The president has denied both women’s allegations.

Cohen also said in court that he made those payments “in coordination and at the direction of a candidate for federal office,” whom his attorney later identified as Trump.

Federal prosecutors in New York are considering possible charges against the Trump Organization in relation to the Cohen hush-money agreement with Daniels, an official briefed confirmed to ABC News on Friday. No charges were imminent.

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