OMAHA, Neb. -- A man from Omaha pleaded guilty for a money laundering charge.

U.S. Attorney Steven Russell said 42-year-ol Jeffrey Stenstrom, of Omaha, pleaded guilty to a Criminal Information on Wednesday. He was charged with conspiracy to commit money laundering and could serve a maximum possible punishment of 20 years in prison, a fine of $500,000 or twice the amount of the laundered funds, or both.

According to court documents, Stenstrom agreed to pay restitution in excess of $5,100,000 to Darland Properties, LLC. He also admitted to forfeiture allegations, agreeing to forfeit his interest in a 2020 McLaren 600LT Spider, multiple trucks, several items of jewelry, a home in Arizona, various properties in Nebraska, currency, and multiple life insurance policies worth in excess of $2,000,000.

Authorities said a Pre-Sentence Investigation was ordered to be conducted and Stenstrom’s sentencing hearing is set for June 2, 2023, at 1:30 pm.

Officials said Stenstrom is also currently pending sentencing for income tax evasion in a separate matter where he faces a maximum possible punishment of five years in prison, a $250,000 fine, or both. Stenstrom agreed to pay $1,954,505.10 in restitution to the Internal Revenue Service in this case.

This case was investigated by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation.