Cannon agreed to plead guilty to a single count of honest services wire fraud, which carries a sentence of up to 20 years in prison and a $250,000 fine, according to documents filed Monday at US district court. Cannon was set to appear in federal court Tuesday before US magistrate judge David Cayer.
Cannon, 47, was arrested March 26 and the Democrat resigned the same day, less than six months after taking office. Cannon's lawyer, James Ferguson of Charlotte, did not immediately respond to a message left at his office.
According to the federal criminal complaint, Cannon accepted more than $48,000 in cash, airline tickets, a hotel room and the use of a luxury apartment from FBI agents posing as real estate developers who wanted to do work with North Carolina's largest city. Cannon is also accused of soliciting up to $1m more in bribes from the undercover agents.
If he had been convicted on all charges at trial, Cannon faced up to 50 years in prison and more than $1m in fines.
The investigation began in August 2010 after a tip from a local undercover officer about public corruption. At the time, Cannon was a city councilman.
The complaint said Cannon bragged to agents about his close relationship with former Charlotte mayor and current North Carolina governor Pat McCrory, as well as a recent meeting he had at the White House with President Obama. In exchange for the bribes, the mayor promised the undercover agents access to city officials responsible for planning, zoning and permitting, according to the complaint.
On the last occasion, a private meeting in the mayor's office on February 21, the agent reportedly gave Cannon a briefcase filled with $20,000 in cash.
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