Lawmaker resigns from financial panel


WASHINGTON -- New York Rep. Michael Grimm is stepping down from the House Financial Services Committee as he faces charges of tax evasion.

Grimm informed House Speaker John Boehner in a letter Monday that in light of recent events, he should be removed from the panel. The Republican congressman said he plans to return to the panel once the legal issues are resolved.

Grimm pleaded not guilty on Monday to charges that he concealed more than $1 million in sales and wages while running a small Manhattan restaurant.

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