Jesse Jackson Jr. refinances home to pay feds $550K: report

CHICAGO -- 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.

Source: Sun-Times Media Wire - Copyright Chicago Sun-Times 2014.)