Jessie Jackson Jr. and his wife Sandi plead guilty to federal charges today. The former congressman was found to have misused $750,000 worth in campaighn funds and his wife lied about their income tax returns for six years according to their lawyers.

Jessie Jackson Jr. was charged on one count of conspiracy for committing, wire fraud, mail fraud and false statements to purchase expensive items like a $43,350 men’s gold-plated Rolex watch! The Chicago Democrat faces up to five years in prison and fines of up to $250,000 along side other penalties. Read the full story HERE.