Jackson, who is accused of spending the funds on personal items like a 43,350 dollar-worth gold-plated Rolex watch, fur coats and home furniture, has not denied the charges, ABC News reports.
In a statement released by his attorneys, Jackson, who is also charged with accepting bribes of 28,000 dollars, accepted the charges made, saying that he has no excuses for his conduct, although he stated that no person is immune from their share of shortcomings and human frailties.
Apologising to his family and the concerned people, Jackson said that he wanted to be remembered for the positive things he had done during his life. Jackson's wife, Sandi, who resigned from her post on the Chicago City Council last month, was also charged with filing false tax returns.
Jackson, who is the son of a former US civil rights leader Jesse Jackson, would have to give up valuable memorabilia related to iconic personalities like Bruce Lee, Michael Jackson, Jimi Hendrix and Martin Luther King Jr, as a part of the criminal information filed against him. Jackson was also charged with criminal conspiracy, making false statements, mail fraud and wire fraud.
Sydney: Former Republican politician Jesse Jackson Jr. has been charged with misusing 750, 000 dollars of campaign funds, using them for personal use, and may face a prison sentence, according to a criminal information filed in a Washington, D.C court on Friday.
First Published: Saturday, February 16, 2013, 16:14