Kwame Brown Charged With Bank Fraud: D.C. Council Chairman Resigns

WASHINGTON -- District of Columbia Council Chairman Kwame Brown (D), who has been under investigation by federal prosecutors for months, was charged with one count of bank fraud on Wednesday afternoon.

According to multiple media reports, Brown, who was described as "somber," apologized to his council colleagues in an emergency closed session and told them he planned to resign.

The Washington Post, which first reported that Brown would face charges, said that the chairman's lawyer had been working out a plea deal with prosecutors:

"The three-page charging document says that Brown provided Industrial Bank of Washington “falsified documents” that overstated his income by “tens of thousands of dollars” to allow him to obtain a home equity loan and to purchase a boat. Prosecutors wrote that the two-year scam started in August 2005."

Brown sent his resignation letter to the D.C. Council secretary Friday afternoon, according to the Post:

"I have behaved in ways that I should not have. I was wrong, and I will face the consequences of that conduct. I have apologized to the residents of our great city, and I also offer my unconditional apology to the members of the Council for all of the negative attention that my conduct has brought about."

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