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 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.