By Bernie Becker - 04/28/14 06:50 PM EDT
Rep. Michael Grimm (R-N.Y.) stepped down from the House Financial Services Committee on Monday after being indicted by federal authorities.
"Upon a successful resolution of pending legal matters my intention is to resume said position as an active member of the committee," wrote Grimm, who was indicted on 20 counts related to a Manhattan restaurant he once owned.
A spokesman for Boehner, whose office released Grimm’s announcement, said “the Speaker believes Rep. Grimm’s decision is appropriate under the circumstances.”
Grimm, whose district includes Staten Island and part of Brooklyn, insisted on Monday that he would seek reelection this year, despite the cloud of the indictment.
But at least for the time being, he’ll have to proceed without his perch on Financial Services, a committee assignment widely viewed as helpful for fundraising.
The charges against Grimm include mail fraud, perjury and falsifying tax returns.