Jimmy Wayne Wright was arrested on Tuesday, after D.E.A. agents executed several search warrants at the B&L Adult Bookstore on West University Avenue.
Wright, 67, owns B&L Adult Bookstore.
Drug Enforcement Agents say Wright was indicted on January 25th. The federal indictment charges Wright with seven counts of possession and distribution of products used to cut cocaine.
Agents say Wright has possessed cutting agents for cocaine since January 2007, and they believe he made some of these items -- including Inositol, Lidocaine, Mannitol and "Bolivian Rock" incense -- available for sale.
Agents have also seized about $727,000 from a bank account associated with Wright, along with $300,000 cash, a $45,000 check made payable to Wright and several weapons.
In the indictment, the federal government also calls for a seizure and repossession of all property allegedly used by Wright in the cocaine distribution process -- as well as all property allegedly purchased by Wright using drug money.
If convicted, Wright faces up to four years in federal prison for each count -- or 28 years overall.