A Transcona businessman who once ran for city council has pleaded guilty to trying to sell guns to an undercover police officer.

Ray Ulasy was charged in 2014 with attempting to transfer firearms without authority as part of the RCMP's Project Distress.

On Wednesday, court heard Ulasy was in contact with an undercover officer from Dec. 2013 to Sept. 2014.

Ulasy claimed he had access to 20 guns that were buried under a friend's pool, including restricted weapons like a .357 magnum.

At one point, he gave a $450 price point per gun. He met with the undercover agent several times, but no guns were ever seen or seized.

Ulasy was a vice-president with a local recruitment and human resources firm and had been a board member with a number of community groups.

He later ran for city council, but lost to Russ Wyatt in late October.

Police said Ulasy was not an original target of Project Distress when the investigation was launched.

He is now free on bail and is scheduled for a sentencing hearing in May 2016.