STAMFORD, Conn. (AP) - A Peruvian national has pleaded guilty to arranging the kidnapping and murder of the manager of a Stamford restaurant that he failed to buy.

Twenty-nine-year-old Larry Talledo-Torrejon entered the plea Wednesday in Hartford to racketeering conspiracy involving a murder. He faces up to 10 years in prison when he's sentenced Sept. 7.

Federal authorities say the Stamford man was unable to raise the $300,000 purchase price for the Peruvian restaurant. They say he told a man who owed him $5,000 to tail the restaurant's manager to his home and kill him after the sale wasn't finalized.

The man instead notified law enforcement and told Talledo-Torrejon that he kidnapped the manager and was holding him.

Authorities say Talledo-Torrejon was arrested Dec. 8 after paying the man a $500 partial payment.