Palmetto man pleads guilty to cocaine distribution conspiracy

LAFAYETTE, La. – United States Attorney Stephanie A. Finley announced that a Palmetto man pleaded guilty Monday to his role in a conspiracy to distribute cocaine in St. Landry Parish.

Steven Paul Banks, 47, of Palmetto, La., entered a conditional guilty plea to one count of conspiracy to distribute more than 500 grams of cocaine and more than 28 grams of cocaine base before U.S. Magistrate Judge Patrick Hanna. The plea will become final when accepted by U.S. District Court Judge Richard T. Haik. According to evidence presented at the guilty plea, law enforcement agents recorded Banks and other co-conspirators from September to August of 2013 negotiating the purchase of cocaine for later sale in Melville, La.

Banks faces five to 40 years in prison, four to five years of supervised release and a $5 million fine.  A sentencing date was not set.

The DEA conducted the investigation.  Assistant U.S. Attorneys Howard C. Parker and Robert F. Moore are prosecuting the case.