Former Rep. Jesse Jackson Jr. has signed a plea deal with federal prosecutors, which includes significant prison time, regarding inappropriate use of campaign funds, according to sources close to the Chicago Sun-Times.

 

Jackson, 47,  who first took office in 1995, resigned last November after having been treated for bipolar disorder and becoming the subject of a federal investigation over campaign funds. 

 

Jackson allegedly spent campaign funds on a $40,000 Rolex watch, among other things. 

 

Federal authorities are also taking an independent look at Jackson's wife, former 7th Ward Alderman Sandi Jackson, for her alleged access and use of her husband’s congressional campaign money, including credit card charges and the movement of money from one account to another. Sandi Jackson resigned last month.