The charges and Cannon's resignation appear to end a political career that took the mayor from being the youngest person to serve on the Charlotte city council when he was elected at 26 in 1993. When he won the mayor's race last year, he was the longest-serving councilman.
Cannon, a Democrat, was arrested Wednesday after showing up at a meeting with FBI agents he allegedly believed were business people willing to make payoffs in return for his assistance. He was released on $25,000 unsecured bond after appearing before a federal magistrate.
In court documents, investigators said Cannon took thousands of dollars in bribes and boasted of his connections in the state and city. He also allegedly told one of the undercover agents last fall he and his wife had been invited to a party hosted by President Barack Obama and first lady Michelle Obama at the White House.