CHICAGO -- Former Illinois congressman Jesse Jackson Jr. has reached a plea agreement in connection to a federal probe into whether or not the troubled lawmaker misused campaign funds.

Earlier this month Jackson pleaded guilty to one count of conspiracy to commit wire fraud, mail fraud, and making false statements, sources close to the investigation told ABC's Chicago station WLS. Jackson could now face up to five years in jail, a decision that will ultimately be made by a federal judge. The former congressman signed the plea deal on Feb. 1 in the nation's capital.

The U.S. Attorney's Office in Washington, D.C., which has been running this investigation, had no comment when contacted today by ABC News.

The plea agreement comes a little over two months after Jackson stepped down from Congress. In his resignation letter to House Speaker John Boehner, Jackson, D-Ill., acknowledged that he had made his "share of mistakes."

According to reports, Jackson will now repay the government hundreds of thousands of dollars that he used to buy items such as a $40,000 luxury watch and home furniture.

His wife, Sandi Jackson, is also the subject of a federal probe. She left her spot on the Chicago City Council last month.

Jesse Jackson Jr. signs plea deal; judge to decide if he serves jail time

Former Rep. Jesse Jackson Jr., D-Ill., has signed a plea deal with federal prosecutors, agreeing to plead guilty to misuse of campaign funds, CBS Chicago reports. The deal will let a federal judge decide whether Jackson serves jail time.

By agreeing to plead guilty to a single felony count, Jackson could serve up to five years in prison. The judge, however, may decide to sentence him with probation instead of jail time. The former congressman has also agreed to repay hundreds of thousands of dollars in campaign funds, misspent over four years on things like redecorating his home and a $40,000 Rolex he bought for a female friend.
As part of the agreement, the government demanded that Jackson give up his congressional seat, which he did in November, just a little more than two weeks after easily winning re-election.

The fate of Jackson's wife, former Chicago Alderman Sandi Jackson, is still unclear, according to CBS Chicago. Investigators were scrutinizing whether Sandi Jackson -- who served as her husband's campaign manager and as a paid consultant for him -- was aware of or complicit in her husband's alleged misuse of campaign money. CBS Chicago reports there's no indication she'll be charged with anything besides co-signing tax returns that should have included taxes on Jesse's campaign funds converted to personal use.

While under investigation last year, Jackson also struggled with his mental health. He spent four weeks at the Mayo Clinic in Minnesota over the summer in treatment for bipolar depression. In spite of his problems, Jackson last year won re-election in Illinois' second district, which he had represented since 1995, with 63 percent of the vote.

No surprise ...Probably no prison term either ...As for the wife....I think she should call her father-in-law and complain....

and if ran for any office, he would be re-elected.

Great minds Allie, I thought the same thing when I posted above..