Former Illinois Congressman Jesse Jackson Jr. pleaded guilty on Wednesday to misusing approximately $750,000 in campaign money on personal items including on a Rolex watch, fur coat, and a fedora that once belonged to King of Pop Michael Jackson.
(Former Chicago congressman Jesse Jackson Jr. enters the U.S. District Federal Courthouse in Washington February 20, 2013. Jackson, son of the famed civil rights leader, plans to plead guilty to charges filed on 15 February accusing him of misusing $750,000 in campaign funds, his attorney said. Jackson's wife, Sandi Jackson, has also agreed to plead guilty to a related charge of filing false tax returns, according to her attorneys. REUTERS/Gary Cameron (UNITED STATES - Tags: POLITICS CRIME LAW))
"For years I lived off my campaign," a teary-eyed Jackson told U.S. District Judge Robert L. Wilkins. "I used money that should have been for campaign purposes for personal purposes." Under the plea deal, the Democrat faces up to five years behind bars, in addition to paying a fine that could range from $10,000 to $100,000.
It's been a year of crisis for the one-time political star. Since the summer, he has been hospitalized twice for the treatment of bipolar disorder. He resigned last November, citing health problems and acknowledging a House Ethics committee investigation against him.
Jackson, 47, also accepted charges of mail fraud, making false statements and conspiracy to commit wire fraud. Jackson's wife, Sandi Jackson, also pleaded guilty to a charge of filing false tax returns and reporting less income than she actually made.
Source: MSNBC - Hardball with Chris Matthews | Aliyah Frumin