Jesse Jackson Jr. to sell Washington, D.C., home to pay $750K fine
October 25, 2013 (CHICAGO) (WLS) -- Former congressman Jesse Jackson Jr. is selling a home to help pay the fine he faces from his conviction for stealing from his campaign fund. Friday's court filing comes just weeks before the convicted former lawmaker is set to report to prison to serve out the rest of his sentence.
The Jacksons now have more time to fully pay what the court says they must. A filing Friday says the ex-congressman and his wife, to date, have been unsuccessful in attempts to satisfy their forfeiture judgment of $750,000 dollars. The deal is they now get another seven months to make good, but they've got to sell their Washington D.C. home.
Jackson's sentence has two components: a 2-and-a-half year prison sentence-- he will likely end up serving two-- and the forfeiture of $750,000, which is the amount of campaign cash he illegally used to buy personal items.
A court filing Friday shows that Jackson has agreed to pay $200,000 toward the forfeiture by November 1, which is his suggested prison surrender date and that he and his wife have agreed to sell their Washington, D.C. home. Proceeds from the sale would go to the balance of the forfeiture settlement. The Jacksons had placed their DC home on the market last year with an asking price of two-and-a-half million.
The court filing gives the former Congressman until June 1, 2014 to "satisfy his financial obligation."
By June of next year, Jackson will have served seven months of his prison sentence.
He is expected to do his time at the Butner Correctional Facility, 25 miles outside Raleigh-Durham, North Carolina. Butner has medical facilities devoted in part to mental health issues. Jackson has claimed that his campaign money spending abuse was driven by his bipolar disease.
Butner is where investment fraudster Bernie Madoff is spending the rest of his life, though he is at the medium security section of the prison. The former congressman would qualify for the less restrictive prison camp at Butner because his sentence is comparatively short and his conviction is for a non-violent crime.
An irony is that Jackson's predecessor as 2nd District Congressman Mel Reynolds also did federal time at Butner for his conviction on bank fraud.
It's possible that Jackson would cross prison paths with ex-Chicago Police Commander Jon Burge, who's also serving his federal sentence at Butner. Jackson was given a November 1 surrender date, though it was not a hard and fast one. The Bureau of Prisons won't comment on where Jackson will do his time until he arrives. A BOP spokesman says they expect him "shortly."
According to a source close to the family, Jackson Jr. will surrender to serve his sentence on November 6.
After the ex-congressman serves his sentence, his wife Sandi will do her sentence, which is one year in federal prison.
The O Street property is Jackson's home in Washington, D.C. Jackson has held auctions to try to raise money to pay the $750,000 he owes the government after pleading guilty to conspiracy to commit false statements, mail fraud and wire fraud in February 2013.
politics, paul meincke
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