A former executive of Miami-based Ocean Bank pleaded guilty on Wednesday in U.S. District Court in Miami to participating in a bribery scheme and failing to report the income on federal income tax returns, the Department of Justice said.

Danilo P. Perez, a former vice president of Ocean Bank, pleaded guilty to the felony charges that were filed on Jan. 18. Perez was charged with accepting nearly $500,000 in cash and other items from unnamed co-conspirators in connection with his oversight of bank customers, the Justice Department said.

According to court documents, as vice president, Perez generally oversaw Ocean Bank’s lending relationships with the bank’s corporate customers. The department said that from February 2001 to April 25, 2007, Perez accepted bribes, including payments for expensive watches, Super Bowl tickets and other items for his personal use, as well as substantial amounts of cash. Perez accepted the payments intending to be rewarded and influenced in connection with his role in approving Ocean Bank’s issuance of letters of credit, loans and overdraft privileges to his co-conspirators, the department said. The court documents also show that he failed to report income from the bribes for the tax years 2005, 2006 and 2007, resulting in lost tax revenue of approximately $91,000 to the federal government.