Franklinton pastor Jerry Wayne Cox pleaded guilty Thursday morning to federal financial crimes.

U.S. Attorney Kenneth A. Polite said that Cox, the 72-year-old pastor of Faith Tabernacle, moved more than $100,000 around in order to avoid triggering reporting requirements to the IRS.

According to court documents, Cox had several financial accounts, including one at Resource Bank and another at Citizens Savings Bank. Polite said that Cox used a series of deposits and withdrawals designed to evade “Currency Transaction Reporting requirements under federal law.” Polite said that Cox used this scheme twice — once in 2011 and another time in 2012.

Polite said Cox engaged in structured withdrawals in the amount of $102,050 between Sept. 20, 2011, and Aug. 4, 2012. He said these withdrawals were less than $10,000 each time, and specifically designed to avoid the IRS reporting requirements. Polite noted that Cox was well aware of what he was doing.

Cox faces a maximum term of imprisonment of no more than 10 years in prison, followed by up to three years of supervised release. He must also pay a fine of $250,000.

U.S. District Judge Nannette Jolivette has set Cox’s sentencing for Jan. 28, 2016.