A Midland business man faces a hefty fine and jail time for skirting federal banking laws.
55-year-old Hector Jesus Garcia-Ponce owned Hector's Pipe Company.
He faces up to 10 years in federal prison and a maximum $250,000 fine.
He plead guilty to charges he illegally structured cash withdrawals to avoid reporting requirements.
In court, Garcia-Ponce admitted over a four year period he repeatedly took out cash amounts just under $10,000.
It's not illegal to take out that amount of cash but the law requires banks to make a report to the federal government every time a $10,000 transaction is made.
His sentencing date has yet to be scheduled.