Former Real Money Sports betting tout Adam Meyer has pled guilty to felony extortion and racketeering charges in connection with a $45m scam he ran on a former betting client.

Meyer, who originally pled not guilty to the charges, was arrested in November 2014 after Wisconsin-based customer Gary Sadoff alerted authorities that he’d been threatened with a gun by Meyer and an associate.

On Thursday, the Milwaukee Journal Sentinel reported that Meyer had reached a deal with prosecutors to plead guilty to five felonies in exchange for prosecutors dropping firearms charges. Meyer who will be sentenced on Dec. 9, could face up to 12 years in prison, although Meyer’s attorney is pushing for a five-year stint.

According to court documents, the $45.3m Meyer extracted from Sadoff between March 2009 and February 2011 is nearly twice the sum previously reported.