An Illinois man will receive a record-breaking $20 million settlement for spending nearly two decades in prison for a rape and murder he did not commit.

Juan Rivera, 41, stood with family members and his lawyers at a Chicago press conference on Friday as he announced the settlement of his federal lawsuit against local law-enforcement, the Daily Herald reported.

"I still would prefer my 20 years with my family than $20 million," Rivera told the newspaper.

It is believed to be the biggest settlement for a wrongful conviction in the nation's history.

The Waukegan man was convicted for the 1992 rape and murder of 11-year-old Holly Staker. He was then tried and found guilty two more times and received a life sentence for each conviction, according to the Daily Herald.

Rivera sat in prison for almost 20 years until he was exonerated by DNA evidence in January 2012.

That October, Rivera filed his wrongful conviction suit against the town of Waukegan, Lake County and the Lake County Major Crimes Task Force. He also sued several individuals, including former Lake County State's Attorney Michael Waller, whose office prosecuted Rivera's case.

Rivera was coerced into making a false confession during intense and brutal interrogation sessions, according to his lawsuit.

"So much was taken from him," John Loevy, one of Rivera's attorneys, told the newspaper. "Twenty years of his life for something he didn't do is an unfathomable injury."

The settlement is to be paid between the agencies and those named in the lawsuit, Lake County officials said.

Rivera said he plans on using the money to pay for his mom's medical bills and to put his nieces through college.

He also said he wants to go to college as he tries moving on with his life.

"Yes, I'm bitter, but I'm not angry," Rivera told the Daily Herald. "To live angry, I would not be a happy person."

Staker's murder remains unsolved.