Baltimore Mayor Catherine Pugh is resigning amid an ongoing criminal investigation into the mayor over book deals that paid her hundreds of thousands of dollars.

"Baltimore deserves a mayor who can move our great city forward," Pugh said in a written statement, which was read by Steve Silverman, Pugh's attorney.

In a letter to Jack Young, president of the Baltimore City Council, Pugh wrote, "In the best interest of the people and government of the Mayor and City Council of Baltimore, I am writing to attest that, effective immediately, I hereby resign from the Office of Mayor, to which I was duly elected on November 8, 2016.

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"I am confident that I have left the city in capable hands for the duration of the term to which I was elected."

In a statement, Maryland Gov. Larry Hogan, a Republican, said that he supported Pugh's decision.

"This was the right decision, as it was clear the mayor could no longer lead effectively. The federal and state investigations must and will continue to uncover the facts," he said. "Baltimore City can now begin to move forward. The state pledges its full support to incoming Mayor Jack Young and to city leaders during this time of transition."

Last week, federal investigators executed search warrants at Pugh's residences and Baltimore City Hall after the FBI has confirmed it was working with the IRS. Pugh had received payments from several companies and entities for her "Healthy Holly" children's books totaling at least $700,000. Federal law enforcement sources confirmed to CBS News that the book deal was part of the investigation.

The FBI's probe comes amid several investigations into Pugh's business dealings, including probes by the state prosecutor's office, the City's Board of Ethics, the City's law department, and the state insurance commissioner, as well as an internal audit from the University of Maryland Medical System.

Pugh, who has been on a leave of absence since April 1, had originally refused to step down amid a chorus of calls for her resignation. CBS Baltimore reported that Baltimore City councilmembers signed a letter earlier last month calling for Pugh to formally resign from office.

Despite the controversy, Pugh originally stated that she "fully intends to resume the duties of her office."

"Mayor Pugh has taken a leave to focus on recovering from pneumonia and regaining her health. She fully intends to resume the duties of her office and continuing her work on behalf of the people and the City of Baltimore," Pugh's spokesman told CBS Baltimore earlier last month.