London Mayor Joe Fontana is set to step down in the wake of his conviction on three fraud-related charges.

"I am taking this step out of respect for the office of the mayor, the people of London and our judicial system," Fontana said in a statement released today.

Fontana is scheduled to hold a news conference on Thursday.

Fontana was found guilty last week of uttering forged documents, fraud and breach of trust for claiming $1,700 as a work-related expense, money that was used to pay for his son's wedding at London's Marconi Club. The court found that Fontana, at the time a Liberal MP and cabinet minister, also tried to make it look like the money was being used for a political event at the same venue.

He is to return to court on July 15 for sentencing.

Coun. Joni Baechler is among a handful of council members who have asked Fontana to resign.

"Even if he decides to appeal, that's going to be a long period of time, and we still live with this circumstance," she told CBC News. "So I don't think that's reasonable that he would stay even on a leave of absence."