Democratic Charlotte Mayor Patrick Cannon was arrested Wednesday and accused of taking bribes totaling more than $48,000 from FBI agents who posed as real estate developers doing business in Charlotte.

Cannon stands accused of accepting a bribe of $12,500 dollars from an undercover FBI agent, which Cannon wanted to use to develop a feminine hygiene product called "Hers." Cannon agreed to accept the "zero percent return-on-investment" money for "Hers" in exchange for offering the FBI agent assistance with zoning and obtaining a permit to open up a nightclub.