Police raided two Gloucester homes they found £15,000 worth of heroin and £31,386 in cash, a court heard today.
Dealer Melvyn Whyte of Hazleton Cose, Gloucester pleaded guilty to possessing Class A drugs with intent to supply and possessing the proceeds of crime, when he appeared at Gloucester Crown Court.
The 26-year-old defendant admitted two charges of possessing heroin with intent to supply - at Brook Street and at Foxdale Close - on October 19, last year,
At first he denied the proceeds of crime charge, alleging that he made the money from buying and selling cars, but he later entered a guilty plea.
Prosecuting barrister George Threlfell said: "The defendant was in possession of 344 grammes of heroin, which has a street value of £15,000.
"He said that he was the custodian of the drugs for somebody else. His original explanation for the large amount of money found was that it came from buying and selling cars.
"Besides the heroin, drugs-related paraphernalia was also found at the addresses."
Mr Threlfell said that a confiscation hearing regarding the £31,386 would be held on May 7.
Defending barrister Rosemary Walsh said: "The defence have a basis of plea to be considered."
Judge Martin Picton said: "The Crown can have seven days to consider the basis of plea and a further seven days to respond."
The case was adjourned until February 8 and Whyte was remanded in custody.
Melvyn Whyte
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