Former Ohio coin dealer Tom Noe faces from 24 to 30 months in prison after he pleaded guilty May 31 to three felony counts of laundering money into President George Bush's re-election campaign in 2004.
Noe, 51, told a federal judge that he decided "to accept responsibility to spare my dear family and friends the further embarrassment of any additional court proceeding."
Noe admitted that he used friends and colleagues to illegally provide up to $45,500 through 24 associates to Bush's reelection campaign.
Federal prosecutors indicated they may seek a longer prison sentence for Noe than the 30 months because of the "potential loss of public faith" in the presidential election process.
A sentencing date will be scheduled after the federal probation office can produce a presentencing report.
Noe faces additional charges in Lucas County court in Ohio, where he is charged with 53 felonies alleging that he took millions from the rare-coin funds he managed on behalf of the Ohio Bureau of Workers' Compensation. A trial date has not been scheduled yet.