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Jackson, Jr., admits misusing funds

Updated: February 15, 2013
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CHICAGO -- Former Congressman Jesse Jackson, Jr., says he has no excuses. He's charged with misusing more than a half million dollars in campaign funds. Prosecutors say he used the money to buy a Rolex watch, thousands of dollars in clothes and memorabilia of historic figures.

His wife is also in hot water. Former Chicago Alderwoman Sandi Jackson was charged with filing false income tax returns. She's agreed to plead guilty to one count of tax fraud.

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