Sandi Jackson and Jesse Jackson Jr

There is no honor among thieves — even if those thieves are married to one another.

Former Congressman Jesse Jackson, Jr has agreed to a plea deal that involves him selling out his wife in a federal tax fraud probe, CBS 2 in Chicago is reporting.

The extensive federal investigation included 2 probes involving alleged campaign finance misuse by Jackson and tax fraud committed by his wife Sandi, a former Chicago alderman.

CBS 2 reports that formal charges against Jesse Jackson, Jr. could be filed as early as today or Tuesday at the latest.

From CBS 2:

Jackson’s deal calls for him to repay hundreds of thousands of dollars spent for things like travel and meals with a mistress and a $40,000 men’s Rolex watch he bought for himself. Jackson’s resignation from Congress was also part of the deal.

But Jackson’s pleading guilty to using campaign funds for personal expenses could expose Sandi, his campaign manager, to tax-fraud charges.

Writer Michael Sneed of the Chicago Suntimes, who first broke the news of a plea deal between Jackson and the feds, said the deal includes Jackson serving “significant time” in federal prison.

A second source added: “I think.. Sandi, feels like she was thrown under the bus by her husband.”

The feds reviewed the couple’s personal finances, “including credit card charges, as well as the movement of money from one account to another,” sources told Sneed.

Sandi Jackson was implicated in the investigation because she signed fraudulent tax returns for herself and her husband.

The filing of the plea deal at the U.S District Courthouse in Washington will not require court appearances by either Jackson. Court dates have not been set.

Jackson spent months as an inpatient at a psychiatric hospital where he was reportedly treated for for a mood disorder.

Many in the Chicago media believed Jackson’s alleged mental problems were just a ploy to evade justice.

During their time in office, the couple lived in separate homes. The Jacksons have 2 small children together.

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  • Photos: AP Photo/Charles Dharapak (Jackson) and Richard A. Chapman/Sun-Times (Sandi Jackson)