Former Rep. Jesse Jackson Jr. agrees to pay $200,000 of the $750,000 he owes from a recent fraud judgement.
Unable to meet financial obligations, Jesse Jackson has promised to start paying off his debt by first selling property he owns in Washington, D.C. Jackson pleaded guilty in February to the misuse of $750,000 raised for campaign funds, instead Jackson spent the money on personal expenses such as vacations, fur coats and movie memorabilia.
The filing requests that the former Illinois Congressman and once-rising star in the Democratic party be given until June of next year to pay the full amount. He will need to submit a status report by mid-May.
Jackson was also sentenced in August to 30 months in prison, a term due to start within a few weeks. As for his wife, Sandra Jackson, who was also caught up in the case, pleading guilty to filing false tax returns. These returns failed to account for hundreds of thousands of dollars in taxable income. She was sentenced to 12 months in prison.
The property Jackson is promising to sell is located in Washington, D.C.’s costly Dupont Circle neighborhood. Jackson could also be forced to sell a property in Chicago.
–CNN’s Bryan Koenig and Carol Cratty contributed to this report
Original Article found on CNN Politics
Picture courtesy of US News