WASHINGTON, June 6 (UPI) -- District of Columbia City Council Chairman Kwame Brown told colleagues he will resign after being charged Wednesday with bank fraud, The Washington Post said.
The charges -- which came as part of a long-running corruption investigation -- were filed in federal court in a document the newspaper said may only be filed with the consent of a defendant. The document indicates Brown overstated his income in "falsified documents" so he could get a home equity loan and buy a boat, the Post reported.
Officials told the newspaper the filing, known as a criminal complaint, suggests Brown and prosecutors are working on a plea deal. A plea hearing is scheduled for Friday in U.S. District Court.
Three members of the council told the Post Brown apologized to his colleagues Wednesday and said he will resign this week.
Neither Brown nor his attorney responded to the newspaper's requests for comment Wednesday and a spokesman for the U.S. Attorney's Office declined to comment, the Post said.
The report said Brown and his wife Marcia purchased a home for $313,000 in 2002 and refinanced in 2006, taking out a home-equity line of credit for $598,000, while Brown was earning $92,530 as a member of the D.C. City Council. Three credit-card companies sued Brown in 2010, claiming non-payment of charges and interest totaling more than $55,000.