Video: Adam Schiff Tells Stephen Colbert How Donald Trump Faces 'Real Prospect of Jail Time'

California Congressman Adam Schiff has explained his recent assertion that there is a "real prospect" President Donald Trump faces "jail time" after leaving office.

Speaking on The Late Show With Stephen Colbert Tuesday evening, the top House Intelligence Democrat said the recent sentencing of Michael Cohen set an uneasy precedent for Trump. If Cohen is going down, he told Colbert, the president might not be far behind.

Read more: Adam Schiff says that Trump is just as "compromised" as Michael Flynn after latest Russia revelations

On December 9, Schiff told CBS's Face The Nation: "There's a very real prospect that on the day Donald Trump leaves office the justice department may indict him. That he may be the first president in quite some time to face the real prospect of jail time."

The next president of the U.S., he added, may well have to decide whether or not to pardon Trump.

Explaining his comments to Colbert, Schiff said: "All the arguments the Justice Department made about Michael Cohen, that the rich and powerful shouldn't play by a different set of rules as average people who are out there walking precincts and calling and text-banking and doing legitimate things to try to affect the outcome of an election... That argument applies with equal force to the president of the United States."

Later on in the interview, Schiff called Trump a "deeply unethical man," lamenting a time when he expected presidents to be trustworthy and for Congress to keep them in check.

"We expect the Russians to lie," Schiff told Colbert. "We expect a president of the United States to be telling the truth. And therein lies the problem.

"For two years, we've had this deeply unethical man running the country. And for two years, the Republican Congress has done nothing to oversee any of the allegations of malfeasance, and that stops now."

Schiff is a longstanding critic of Trump, previously suggesting the president is "compromised" alongside former advisor Michael Flynn, and blasting him as a "seriously flawed human being" that has Congress worried.

The representative recently called for the president's Deutsche Bank records in relation to money-laundering allegations. "[Deutsche Bank] paid hundreds of millions of dollars in fines to the state of New York, because they were laundering Russian money. And this, apparently, is the one bank that was willing to do business with the Trump Organization. Now is that a coincidence?" Schiff told NBC News.

Adam Schiff, Donald Trump, Stephen Colbert, Russia Investigation, Michael Cohen
House Intelligence Committee ranking member Rep. Adam Schiff (D-CA) arrives for a Democratic caucus meeting in the U.S. Capitol Visitors Center November 14, 2018 in Washington, DC. Chip Somodevilla/Getty Images