Greasy Bear Pleads GUILTY to Coke Possession

6/29/2011 3:00 AM PDT

Greasy Bear Brandon Davis Pleads GUILTY to Coke Possession

Brandon Davis pled guilty to felony possession of cocaine -- two months after police arrested ol' Greasy Bear outside a Hollywood nightclub ... and found the drug in his pocket.

As we previously reported, Brandon was busted outside Beacher's Madhouse back in April -- after he allegedly punched comedian Ben Gleib in the face.

When cops arrived, they searched Davis and found cocaine. Brandon was arrested for battery and possession of a controlled substance.

Brandon pled no contest to the battery charge -- a misdemeanor, and the judge sentenced him to a drug diversion program.

Good news -- if Brandon successfully completes the program, both charges will be dropped entirely.