Richard R. Girouard, a Connecticut real estate developer, pleaded guilty Wednesday to one count of an indictment charging him with conspiring to commit financial institution bribery.

Between approximately October 2001 and February 2007, Girouard allegedly conspired with his attorney Paul A. Aparo and Kevin J. O’Keefe, an officer at Fleet Bank, which is now Bank of America. Together, the three men engaged in a bribery scheme in connection with Fleet Bank’s business.

In 2002, Fleet Bank owned 49.12 percent of an entity known as “LINC Receivables,” an owner of certain leases and installment sales contracts that produced a stream of revenue, and O’Keefe was the officer responsible for overseeing Fleet Bank’s interest in the company.

During the same year, Girouard was approached by Aparo and O’Keefe about his interest in purchasing Fleet Bank’s interest in LINC Receivables. Girouard was informed by O’Keefe that if he could raise the capital, Girouard’s company would be selected by Fleet Bank to purchase its share of LINC Receivables.

To make the purchase, Girouard set up a company called RRG Investments, LLC. Girouard admitted that he agreed to pay Lexington Associates, an entity controlled by Aparo, 15 percent of the profits from RRG Investments’ purchase of Fleet Bank’s share of LINC Receivables. Girouard made payments between $400,000 and $1 million to Lexington Associates, knowing that Aparo was using these funds to influence and reward O’Keefe for his assistance with the LINC Receivables transaction.

United States District Judge Alfred V. Covello has scheduled sentencing for March 4, 2009 where Girouard will face a maximum of five years imprisonment. Girouard has agreed to forfeit property with a value of at least $2 million to the government, and he will make restitution of no less than $427,000 to the victim of a separate scheme that is alleged in the indictment.

O’Keefe and Aparo also pleaded guilty to conspiring to commit financial institution bribery and are awaiting sentencing.