Former Rep. Jesse Jackson Jr, D-Ill., officially pleaded guilty to misusing about $750,000 in campaign funds on Wednesday, as part of a plea agreement with prosecutors that could result in up to five years in prison time.
"Guilty, your honor. I misled the American people," Jackson said, Reuters reports.
Jackson was charged with using his campaign funds to redecorate his home in Washington, and to buy, among other things, a Rolex.
Though he won reelection in November, Jackson resigned his seat later that month. There is currently a special election underway to replace him.
Judge Robert Wilkins set Jackson's sentencing hearing for June 28.