The former owner of a Medford school bus company is admitting to defrauding banks out of millions of dollars.

Federal prosecutors say John Mensch, of Quogue, pleaded guilty in connection to a nearly yearlong bank fraud conspiracy.

Prosecutors say between 2017 and 2018, Mensch abused his expedited check-clearing privileges and used fraudulent checks to keep operating East End Bus Lines, even though it was bankrupt.

Mensch faces up to five years in prison and financial penalties of more than $9 million.