Published: Oct 07, 2010 3:38 PM EDT
Updated: Oct 07, 2010 12:38 PM EDT

TAMPA, Fla. (AP) - A Colombian native faces at least 10 years in federal prison after admitting that he sold and outfitted "go-fast" boats for drug dealers.

Federal prosecutors in Tampa said Wednesday that 41-year-old Martin David Hodwalker-Martinez pleaded guilty to conspiring to import cocaine into the United States.

Prosecutors say he owned a marina in Barranquilla, Colombia, and sold and outfitted more than 300 speedboats to Colombian cocaine traffickers from 1998 to 2006.

They say he knowingly accepted drug proceeds as payment and disguised the true ownership of purchased boats.

A co-defendant pleaded guilty to the same charge in August.