Updated: December 12, 2012 6:54AM
U.S. Rep. Jesse Jackson Jr. may serve time in prison under a plea deal that is being negotiated, CBS 2 is reporting.
As part of the deal being negotiated by former U.S. Attorney Dan Webb, Jackson would resign his post citing health reasons, plead guilty to misusing campaign funds, repay the campaign funds used illegally and he would possibly serve time in prison, according to the report.
Webb could not be reached for comment late Saturday.
Chicago Sun-Times columnist Michael Sneed was the first to report last week that Jackson is in plea negotiations with federal authorities.
Sneed reported not only is Jackson under investigation for allegedly using campaign funds to decorate his Washington home, but investigators are also trying to determine whether he used campaign funds
to buy a $40,000 Rolex watch as a gift for a female friend.
The Illinois 2nd District congressman was re-elected Tuesday despite a lengthy stay at Mayo Clinic for depression and bipolar disorder.