Feds: Jackson Jr. Stole $750K in Campaign Funds

Looks like Jesse Jackson Jr. didn't exactly work out a sweetheart plea deal for himself. Prosecutors intend to recommend 46 to 57 months of prison time for the former congressman, along with a fine of between $10,000 and $100,000, Politico reports. As part of the deal, Jackson will admit to having conspired with his wife to illegally spend $750,000 in campaign money on such vagaries as fur coats, airplane tickets, a $43,000 Rolex watch, celebrity memorabilia, booze, cigars, and even groceries.

Jackson was formally charged today with felonies including conspiracy, reports the Chicago Tribune. His wife, former Chicago Alderman Sandi Jackson, was charged with filing false tax returns. No public money is believed to have been included in the $750,000 of misused funds, at least some of which will be forfeited as part of the sentence. "I offer no excuses for my conduct and I fully accept my responsibility for the improper decisions and mistakes I have made," Jackson said in a statement. (More Jesse Jackson Jr. stories.)