Rep. Jesse Jackson, Jr. (D-IL) — the disgraced former Congressman and son of liberal icon Jesse Jackson — is preparing to plead guilty to federal charges filed today in Washington, DC. Jackson is expected to admit to misusing $750,000 dollars from his campaign war chest, and faces up to five years in federal prison:

Jackson, who left the public eye last summer for treatment of bi-polar disorder and resigned from office in November, is not expected to make an appearance [in court], but he offered a response in his first statement to the public in months.“Over the course of my life I have come to realize that none of us are immune from our share of shortcomings and human frailties,” Jackson said in the statement released by the attorneys representing him in the federal probe. “Still I offer no excuses for my conduct and I fully accept my responsibility for the improper decisions and mistakes I have made,” he said…NBCChicago reported last week that Jackson will plead guilty as part of his plea deal, and jail time would be in the hands of a federal judge who has not yet been assigned. Converting campaign contributions for personal use is strictly prohibited by federal law and opens Jackson up to “not more than 5 years” in prison. Prosecutors will recommend a prison sentence for between 46 and 57 months plus fines, according to reports.

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