Disgraced former Congressional Rep. Jesse L. Jackson Jr. (D-Ill.) has agreed to plead guilty to conspiracy, according to multiple news reports. Jackson is believed to have shifted $750,000 in campaign funds to personal expenses, including a $43,350 gold-plated Rolex watch.
In addition to fines, Jackson Jr., the son of one of the icons of the civil rights movement, Rev. Jesse Jackson, faces a prison sentence of between 46 months and 57 months, say prosecutors familiar with the case.
Jackson Jr.'s wife, Sandi Jackson, was charged with one count of filing false tax returns and faces stiff fines and jail time, as well.