Ex-Moreno Valley councilman Marcelo Co agreed to plead guilty to taking a $2.3 million from an undercover FBI operative, officials announced Tuesday.

The $2.36 million bribe is believed to be the largest bribe that a public official has ever taken from an undercover agent in history.

In exchange for the money, Co agreed to vote in favor of any land use and development proposals that would increase the value of a 38-acre parcel to more than $5 million, according to the Press-Enterprise.

Had all gone according to Co's plan, the land would have been publicly-listed for $3 million and Co would have pocketed the rest of the cash.

In a secretly-filmed meeting between Co and the undercover agent disguised as a land developer, the two are seen at a table with piles of money.

Co, who resigned from office in August, has had a long history with legal issues. From 2010 to 2013, he faced misdemeanor charges and other issues with his business, Qwik Pak; a fraud investigation after he was elected councilman; probation violations from past cases and suspension of his business twice. View a full timeline here.

"Mr. Co regularly traded votes, land and confidential information in exchange for cash to fund his personal bank account, rather than what was in the best interest of the residents of Moreno Valley," said Bill Lewis, assistant director in charge of the FBI's L.A. field office, according to ABC7.

Co is expected to appear in federal court in December. If convicted, he will face up to 13 years in federal prison.

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