Guerino Cristalo, 71, pleaded guilty to one count of high-level trafficking of a controlled substance and one charge of low-level trafficking of a controlled substance in Pahrump Fifth District Court Monday.

The plea is in compliance with a plea agreement with the state reached in March.

His sentencing is scheduled for October 27 at 9 a.m.

Cristalo was arrested March of last year after an in-depth narcotics investigation by the Nye County Sheriff's Office Scorpion Task Force and the Nevada Narcotics Task Force.

When he was arrested, the sheriff's office reported him having $12,000 of cash and 50 pre-measured bindles of methamphetamine on him.

A search warrant executed on his residence yielded 2,500 tablets of prescription drugs including oxycodone, hydrocodone and methadone, estimated to worth $70,000.

Although he posted his $55,000 bail after his initial arrest, he found himself in jail again shortly afterwards while deputies were executing a search warrant on his local bank accounts.

Cristalo, accompanied by his son Anthony, allegedly went into the bank and attempted to deplete the accounts before the seizure was complete.

Cristalo's plea agreement stipulates he must pay $500,000 in fines and turn over hundreds of thousands of dollars worth of assets to the state.

In addition, he must render "substantial assistance" to any law enforcement agency in the nation.

In exchange, the state is expected to recommend Cristalo's sentences on both counts to run concurrent, that he receive five years probation and serve one month in the Nye County Detention Center unless a medical doctor selected by the district attorney's office deems his physical condition untenable to being jailed.