Jesse Jackson Jr. refinancing home to pay feds $550,000
BY NATASHA KORECKI Political Reporter May 15, 2014 11:13PM
Former U.S. Rep. Jesse Jackson Jr. and his wife, Sandi Jackson, leave the U.S. District Court in Washington, D.C., on Aug. 14, 2013, after a sentencing hearing. | Saul Loeb/AFP/Getty Images
Updated: June 17, 2014 2:52PM
Imprisoned former U.S. Rep. Jesse Jackson Jr. is refinancing a home so he can pay up what he owes the feds as a result of his corruption conviction.
A federal court filing indicates Jackson is closing on a home refinancing and will pay $550,000 through a wire transfer to U.S. Marshals by June 1. The court filing indicates that Jackson had already written a check to the feds for $200,000 last year.
Jackson is serving a 30-month prison sentence after pleading guilty to looting his campaign fund of $750,000. He was ordered to pay that amount in government forfeiture.
Jackson and his wife, Sandi Jackson, own homes in Washington, D.C., and Chicago.
In 2012, the Jacksons put their DuPont Circle property on the market with an asking price at $2.5 million. At the time, Jackson was on a leave from Congress and cited rising health costs as the reason for the move. It was quickly taken off the market, however. Last year, the couple again discussed selling that home to pay court fines.
Jackson is serving out his sentence in an Alabama federal prison. His wife, the former Chicago alderman, will serve out her one-year prison term after her husband is let out of prison.