chaka fattah
Chaka Fattah was convicted in June on more than 20 counts of racketeering, bribery and fraud.
His resignation is "effective immediately."
The charges largely stem from his efforts to conceal and pay back an illegal $1 million loan from an unidentified Virginia businessman for his mayoral campaign, federal prosecutors said.
WHAT'S HAPPENING
Authorities claim that Fattah and four others were involved in "several schemes" intended to further their "political and financial interests."