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The comeuppance of one of Capitol Hill’s crappiest crapweasels is here.

John Edwards — a.k.a. Silky Pony, Breck Boy, Seabiscuit — will now face formal prosecution for alleged violations of campaign laws while he tried to cover up his extra-marital fling with flaky Rielle Hunter.

ABC News has the story:

A source close to the case said Edwards is aware that the government intends to seek an indictment and that the former senator from North Carolina is now considering his limited options. He could accept a plea bargain with prosecutors or face a potentially costly trial.

Edwards has been the focus of a lengthy federal investigation focusing on hundreds of thousands of dollars allegedly provided by two wealthy supporters. The government will contend those were illegal donations that ultimately went to support and seclude his mistress, Rielle Hunter.

Hunter was a campaign videographer with whom Edwards had a lengthy affair that resulted in a daughter, Frances Quinn Hunter, now three years old.

Aaron Worthing at Patterico offers some free advice and a video reminder: “If they offer a plea that allows you to avoid actual prison time, take it. Seriously you don’t want to risk going to prison. You won’t do well in prison.”

Ed Morrissey at Hot Air predicts: “I’m guessing Edwards cuts a deal for a minimum-security federal facility for no more than two years, and gets out in 18 months with at least some of his fortune intact.”

If not his precious mane…