Former Rep. Jesse L. Jackson Jr. (D-Ill.) will plead guilty to conspiring with his wife to illegally spend $750,000 in campaign funds on personal expenses, including a $43,000 Rolex watch, fur coats and memorabilia associated with Michael Jackson, Martin Luther King Jr., Malcolm X and Bruce Lee, according to information obtained by POLITICO.

The charges against him may include conspiracy, making false statements, and mail and wire fraud.

Prosecutors will recommend a prison sentence of between 46 and 57 months for Jackson Jr., as well as a fine of $10,000 to $100,000, and forfeiture of a yet-to-be-determined portion of the misspent $750,000 in campaign funds.

Jacksonís wife, former Chicago Alderman Sandi Jackson, is expected to plead guilty to a tax offense, according to a source close to the investigation. At different times, she has served as her husbandís campaign manager and campaign treasurer. Both Jacksons resigned from office amid the Justice Departmentís investigation into their finances.