The comedian and box office star, looking morose, posted a video to Instagram on Saturday in which he said he wasn't perfect and recently made poor decisions.
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He said there was "no excuses" but added that someone was trying to seek financial gain over his mistakes, and he'd rather confess than let that happen.
"I feel like I have a target on my back and because of that, I should make smart decisions and recently I didn't," Hart said in the video.
The FBI is reportedly investigating a video showing Hart with a woman who isn't his wife. An extorter is allegedly demanding millions of dollars from Hart.
"I know I'm going to hurt the people closest to me who I have talked to and apologized to, being my wife and my kids," Hart said.
Hart married wife Eniko last year. She is expecting their first child soon. He has two children from a previous marriage.
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Earlier this summer, a video emerged of Hart looking cozy with a brunette in the back of a car, but he laughed off any suggestions of infidelity in an Instagram post.
The Associated Press contributed to this report.
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