DETROIT (WJBK) - Embattled Michigan state Rep. Brian Banks pleaded guilty to a misdemeanor Monday and resigned from his position effective immediately.
He had been accused of using fake paystubs to obtain a credit union loan. At issue is a loan that Banks obtained in 2010 from a Detroit credit union. Banks claimed to make more than $92,000 working for a company, even though he didn't really work there.
In court he read his letter of resignation.
"To Speaker Tom Leonard and Democratic Leader Sam Singh, I Brian Banks, representative for the first House District, submit my letter of resignation from the House of Representatives," he said in court. "It has been my honor to serve the residents of the First District. This is effective today, Feb. 6, 2017."
Banks was first elected to the House in 2012 and M.L. Elrick has been following his legal problems the entire way. Banks had multiple convictions before he was elected to his position in the House.
Monday, he pleaded guilty to a misdemeanor charge of filing false financial statements while three felony counts were dropped. He could face up to a year in prison. Sentencing is Feb. 17.
The 40-year-old was charged in June by state Attorney General Bill Schuette.
Banks was previously convicted of writing bad checks and credit card fraud. Because the felony charges were dismissed, Banks won't be considered a habitual offender -- which could have subjected him to more time behind bars.
The Associated Press contributed to this report