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Former congressman Jesse Jackson, Jr., plead guilty in federal court today, on charges of conspiracy to commit wire fraud, mail fraud.

More than $750,000 in campaign donations were used to bank roll private expenses, luxury items such as Rolex watches , furs, celebrity memorabilia and other items.

The embattled democrat resignation was followed by treatment for a  bipolar disorder and clinical depression last year. Nevertheless,  he and his wife are facing  jail time and fines. Although lawyers are negotiating plea agreements nothing  is guaranteed.

Sentencing will begin this summer,  June 28, 2013.

Jesse Jackson Jr.,  said “I’m guilty, your honor.” 

“I used monies that should have been used for campaign purposes,” Jackson, 47, acknowledged to the judge. When Wilkins asked if Jackson realized that the guilty plea meant giving up the right to a trial, he responded: “I have no interest in wasting the taxpayers’ time or money.”


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