Though Hillary herself does not seem very concerned about the potential indictment of herself or her close associates for her mishandling of classified information, it remains a distinct possibility. If there are charges, prosecutors have multiple options for how to pursue the case, and rampant speculation concerning possible counts against the Secretary has clouded the conversation. Realistically, though, an indictment concerning the server incident would probably be based in the following statutes:
The most straightforward avenue is the Espionage Act, which subjects "Whoever knowingly and willfully communicates, furnishes, transmits, or otherwise makes available to an unauthorized person, or publishes, or uses in any manner prejudicial to the safety or interest of the United States... any classified information" to up to ten years in prison. Title 18 U.S.C. §798. Though a sentence containing any prison time is highly unlikely, Hillary would have to turn over the servers if convicted - a dramatic consequence that her opponents would have no difficulty converting into a campaign spectacle. Even though she is unlikely to receive anywhere close to the prescribed penalty, an eventual prosecution would doubtlessly draw off this section because of its unquestionable relevance to the facts. Ironically, this is also the same law that Debs was imprisoned under another portion of, but no serious constitutional challenges have yet been sustained.
Prosecutors will likely compound that count with 18 U.S.C. §1519, an obstruction-of-justice law which, for most of its career, has been restricted to instances of paper shredding. However, its actual language is quite broad, criminalizing conduct that "alters, destroys, mutilates, conceals, covers up, falsifies, or makes a false entry in any record, document, or tangible object." Interestingly, the Supreme Court ruled last Term in Yates v. United States (13-7451) that an illegally caught grouper fish was not a "tangible object" within the meaning of the statute, because it was not analogous to the corporate records the legislature intended to preserve by passing the law. This could result in a drawn-out challenge on the grounds that emails are not technically "tangible objects" either, potentially redefining the rule yet again.
Given the prospective infirmities of §1519 and the fact that Hillary has long been the establishment candidate in the Democratic race, a conviction is not expected. Rather, this controversy will probably resolve itself in either dropped charges, an inconclusive plea deal that does not distinctly assign fault to the Secretary or, if such a deal is not offered, in lengthy litigation over the technical wording and application of the apposite laws. Whichever occurs, however, this story will indubitably continue to dominate political headlines in the coming months.