The man involved in a bank fraud scheme is scheduled to be sentenced in February.
62-year-old Timothy Mathwich pleaded guilty Tuesday to conspiracy to commit bank fraud and conspiracy to misappropriate insurance credits.
22-other charges were dropped in the plea deal.
Mathwich is the former president and chief operating officer of Manson Insurance.
He was indicted for $7.5 million worth of fraud schemes after the FBI raided his company's offices in 2010.
Two other former employees have already been sentenced to prison for their role in the crime