Atlantic City mayor pleads guilty to stealing from basketball club

UPDATE: Frank Gilliam resigns from office.

Atlantic City’s mayor has pleaded guilty to wire fraud, admitting he defrauded a basketball club out of $87,000.

Frank Gilliam Jr. appeared Thursday in federal court in Camden, where it emerged that half that amount of money was recovered from his home when FBI agents raided it last December.

Judge Joseph Rodriguez informed Gilliam his guilty plea could result in his no longer being able to hold public office.

Agents carried off numerous cardboard boxes and computer equipment during a raid of the mayor’s home on Dec. 3, but they remained silent about why they were there and what they had taken away.

Gilliam could face 20 years in prison. He also agreed to make restitution.

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