BREAKING: Former Rep. Jesse Jackson Jr. to plead guilty, faces 46-57 months in prison on federal charges of campaign finance fraud.
Former Rep. Jesse L. Jackson Jr. (D-Ill.) conspired with his wife to illegally spend $750,000 in campaign funds on personal expenses, including a $43,000 Rolex watch, home renovations, fur coats and a huge array of other transactions, according to a source close to the case.
Jackson Jr. is expected to plead guilty to the charges against him — conspiracy, making false statements, and mail and wire fraud — the source said.
Prosecutors will recommend a prison sentence of between 46 and 57 months for Jackson Jr., as well as a fine of $10,000 to $100,000, and forfeiture of a yet-to-be-determined portion of the misspent $750,000 in campaign funds. Source
CBS News reports Sandi Jackson would be in legal trouble under the terms of the plea agreement:
Formal charges against Jesse Jackson Jr. could be filed as soon as Friday and Tuesday at the latest. His plea has also implicated his wife, leading to tax fraud charges against her.
The filing at the U.S District Courthouse in Washington will not require a court appearance by either Jackson. Plea agreements will be submitted to the court clerk and assigned to judges, who will set initial court dates.