Christopher Tappin will be sentenced on 9th of January. In addition to the prison term of 33 months Tappin's plea deal includes a fine of $11,357.14 - the projected profit he stood to gain if his illegal activity had been brought to fruition.
He was originally thought to have faced up to 35 years in jail if found guilty.
His wife Elaine, 62, said ahead of today's hearing that "however upsetting" a plea deal was, it marked the beginning of his "swift and safe return" to the UK.
Christopher Tappin, 66, of Orpington, Kent, had pleaded not guilty but changed his plea at a hearing in El Paso, Texas, after an agreement with US prosecutors.
His guilty plea, to one count of the indictment, calls for a 33-month sentence which prosecutors have said they will not oppose him serving back in the UK.
British businessman Christopher Tappin has pleaded guilty to selling surface-to-air missile parts to Iran, at a court hearing in El Paso, Texas.
Christopher Tappin's solicitor said his decision to enter into a plea agreement "should come as no surprise".
A statement said:
Ninety eight percent of people who enter the US Justice system enter into a plea agreement.
The odds are so heavily stacked against a defendant who chooses to plead not guilty and then is subsequently found guilty that the vast majority of people facing trial in the US opt to take a plea agreement. Therefore this decision should come as no surprise.
In addition the US Prosecutor has within his discretion the decision as to whether any custodial sentence can be served in the UK. If the US prosecutor declares following a conviction, that repatriation should not tkane place then it is almost impossible to obtain.
– Karen Todner, Solicitor
Lastly the legal fees in defending a case in the US are extremely expensive.
I hope that following this decision to enter into a plea agreement Mr Tappin will be able to return to the UK as soon as possible to rejoin his family.
In a statement the family of Christopher Tappin has confirmed the 65-year-old will attend court in Texas on November 1 when the "US Department of Justice will inform the judge of the basis of a plea bargain agreed by Mr Tappin."
The family statement continues: "Should the Judge accept the terms, there is likely to be a period of several weeks for pre-sentencing assessment before Mr Tappin is recalled to Court to hear the Judge’s sentencing."
– Christopher Tappin's wife Elaine
From the moment Chris was put on a plane all we ever wanted was his swift and safe return. However upsetting, this is the beginning of that process. It would be inappropriate to comment further whilst the Court has yet to establish Chris' fate.
A plea deal between extradited Briton Christopher Tappin and US prosecutors is the beginning of his "swift and safe return" to the UK, his wife Elaine has said.
British businessman Christopher Tappin who was extradited to America charged with selling weapons parts to Iran is set to appear at a Texan court to enter a plea on November 1.
Earlier reports suggested the 65-year-old has reached a deal with prosecutors.
It's reported that a retired British businessman who was extradited to America charged with selling weapons parts to Iran will change his plea to guilty. BBC News says 65-year-old Christopher Tappin has reached a deal with prosecutors.