In a plea deal filed Friday, former Congressman Jesse Jackson admits to using 750-thousand dollars in campaign funds for personal expenses.
The agreement calls for Jackson to pay back hundreds of thousands of dollars.
The document alleges Jackson and his wife used the money on several luxury items, including furs and Michael Jackson memorabilia.
Jackson faces probation or a maximum of five years in prison.
A judge will decide on that once one is assigned to the case.
Jackson released a statement apologizing and saying he, "fully accepts" responsibility for the mistakes he made.