A New Orleans man pleaded guilty Wednesday to leading a counterfeit coupon ring and selling counterfeit coupons using the Silk Road online marketplace.

Beau Wattigney, 30, pleaded guilty to charges of conspiracy to commit wire fraud and conspiracy to commit trademark counterfeiting. He is scheduled to be sentenced Oct. 28 in U.S. District Court.

According to prosecutors, Wattigney designed the coupons to resemble prominent distribution services, including one that allowed users to buy $50 Visa gift cards for just a penny each.

The Silk Road, which has since been dismantled, was a hidden website that allowed users around the world to buy and sell illegal drugs and services.