Patrick Cannon is no longer the mayor of Charlotte, having finished his eventful day by sending a letter of resignation to the North Carolina city's manager and attorney.

Cannon was arrested earlier today by FBI agents, accused of taking bribes totaling $48,000 from undercover agents five times during a four-year investigation. He was "immediately" taken before a judge, according to the Charlotte Observer and  released on a $25,000 bond pending the indictment.

If convicted of extortion, bribery and honest services wire fraud, Cannon, a Democrat, faces up to 50 years in jail and $1.5 million in fines. 

Unlike some mayors, Cannon decided that his current issues would distract too much from his job, writing in his resignation letter:

In light of the charges that have been brought against me, it is my judgment that the pendency of these charges will create too much of a distraction for the business of the City to go forward smoothly and without much interruption.

I regret that I have to take this action, but I believe that it is in the best interest of the City for me to do so.

Cannon's resignation is effective immediately. He served on the Charlotte City Council from 1994 until he took the office of mayor in December of last year. In his victory speech, he said becoming mayor of Charlotte was a "life goal."