Grunge pioneers Pearl Jam's former manager has pleaded guilty to stealing $306,000 from the band.

Rickey Charles Goodrich, who served as chief financial officer for the group's management company, Curtis Management, between 2006 and 2010, admitted six counts of theft at a court in Seattle on Friday.

According to Seattle Weekly, Pearl Jam hired a private investigator to look into Goodrich's finances and it was revealed he had transferred money from their account in order to pay off his own debts.

Goodrich has paid back $125,000 and has agreed to refund the remaining $181,000. He could receive a reduced sentence if he settles the debt before his next court hearing in February.

Members of Pearl Jam have not commented on the lawsuit or the trial.