Former Rep. Jesse Jackson Jr. (D-Ill.) is expected to plead guilty to illegally spending $750,000 worth of campaign funds, according to multiple reports.

Jackson could go public with the plea deal as early as Friday.

Jackson, who resigned from Congress in December, could face as much as 57 months in jail for making personal purchases with the campaign funds. Those purchases include an expensive Rolex watch, memorabilia previously owned by a number of celebrities, furnishings for his home and fur coats.

Jackson has reportedly been in talks with federal investigators over a plea agreement to reduce his jail time.

He is also expected to have to pay a fine as part of the agreement.

Jackson currently faces multiple charges, including giving false statements to federal officials and conspiracy.

Former Chicago Alderwoman Sandi Jackson (D-Ill.), Jackson's wife, is also expected to plead guilty to tax violations. She resigned from office in January citing "health matters." 

The former congressman, prior to resigning from Congress, admitted that he was receiving treatment for severe bipolar disorder and cited his ongoing battle with depression as a reason for stepping down from Congress.