Atlantic City Mayor Frank Gilliam pleaded guilty to wire fraud in federal court Thursday morning. reports Gilliam defrauded a basketball club of more than $87,000, according to prosecutors. He allegedly spent the money on clothing, expensive meals, and trips.

The guilty plea comes after federal authorities raided the mayor’s home in December. During that raid, officials removed cardboard boxes and computer equipment from the mayor's home. It was revealed today that more than $41,000 was recovered during that raid.

The Press of Atlantic City reports Gilliam is set to be sentenced on January 7th and he could face up to 20 years in prison.

In a statement published by The Press, Gilliam's attorney, Harry Rimm, said,

While Mr. Gilliam serves as Mayor of Atlantic City, the charge to which he has pleaded guilty relates only to his conduct as a private citizen, not conduct in his official capacity. He is not charged with taking any public or taxpayer funds. Mr. Gilliam, who is a lifelong resident of Atlantic City, has admitted his wrongful conduct, is accepting responsibility for his actions and is genuinely remorseful.

The Press also reports that according to Gwen Callaway Lewis, chair of the Atlantic City Democratic Committee, City Council President Marty Small will take over as interim-mayor.

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