CHARLOTTE -- Charlotte Mayor, Patrick DeAngelo Cannon, has been arrested Wednesday by FBI agents on federal corruption charges. The federal criminal complaint charges Cannon with theft and bribery concerning programs receiving federal funds, honest services wire fraud and extortion. He resigned hours after his arrest.

The charges allege that Cannon accepted bribes from undercover FBI agents on five separate occasions. The last occurrence, February 21, 2014, Cannon allegedly accepted $20,000 in cash in the Mayor's office. According to the complaint and affidavit, between January 2013 and February 2014, Cannon allegedly accepted the undercover agents over $48,000 in cash, airline tickets, a hotel room, and use of a luxury apartment in exchange for the use of his official position.

Cannon has been released on bail, pending indictment. Cannon faces a maximum of 20 years in prison.