Appearing in the Royal Court on Friday, 32-year-old Mohammed Babrul Hussain admitted bringing the drug into the island between December 2022 and March 2023.
He was also found to have more than £12,700 in cash and to have exchanged some of it for euros and some for US dollars in January 2023.
Appearing via video link from La Moye prison, Hussain pleaded guilty to the illegal importation of goods, possession of criminal property and converting criminal property.
A sentencing date was set for 12 September. He was remanded in custody in the interim.