Harris Faulkner reports that Jesse Jackson, Jr. is expected to plead guilty to several charges including conspiracy and fraud. According to prosecutors, Jackson and his wife illegally spent $750,000 of campaign contributions to live a lavish lifestyle. The money allegedly went toward home renovations, fur coats, and a Rolex watch.

Jackson, Jr. resigned his seat as an Illinois congressman right after winning re-election in November. Prior to the election, the congressman took a six-month leave of absence. According to his doctors, he was undergoing treatment for bipolar disorder.