Santos was accused of stealing a checkbook from a deceased elderly man his mother was helping to care for and allegedly using it to buy about $700 worth of merchandise.
In the agreement to avoid prosecution, Santos admitted the crime and agreed to pay a fine equivalent to approximately 50,000 Swedish kronor, according to the court.
The scandal-plagued Santos, who was elected to the House of Representatives in November, was arrested and charged Wednesday with violating campaign finance laws, among other charges, but was released on $500,000 bail. There are also reports that Santos allegedly violated laws regarding conflicts of interest and embezzled money.
The New York Republican is also accused of a series of lies, including about his professional background and his level of education. He has admitted to some misleading claims about his education and financial situation but denies the more serious allegations.