04/28/2014 06:52 pm ET Updated Apr 29, 2014

Michael Grimm Steps Down From House Financial Services Committee In Letter To Speaker

Rep. Michael Grimm (R-N.Y.) asked to be removed from the House Financial Services Committee in a letter to House Speaker John Boehner (R-Ohio) on Monday.

Grimm was indicted on 20 counts of fraud earlier Monday. He pled not guilty to the charges, which include federal mail, wire and tax fraud.

In his letter to the speaker, Grimm asked to be removed from the committee until the case is resolved.

Boehner spokesman Michael Steel confirmed the speaker's receipt of the letter.

“The Speaker believes Rep. Grimm’s decision is appropriate under the circumstances," he said.

View his letter to the speaker below:

Grimm Letter