06/19/2014 10:33 EDT | Updated 08/19/2014 05:59 EDT

Joe Fontana resigns as mayor of London, Ont.

Joe Fontana is no longer the mayor of London, Ont., he announced on Thursday.

The resignation follows fraud-related convictions from his time as a federal cabinet minister. Fontana announced Monday that he would step down and would hold a news conference Thursday, but cancelled that appearance in an emailed statement this morning.

“I understand I am required to walk this path alone and I have learned that we will be measured not only by what we do but by how we choose to carry our burdens," he said in the release.

Fontana was convicted last week of fraud, forgery and breach of trust after a judge found he forged an expense document submitted to the House of Commons in 2005 that resulted in a $1,700 government fraud.

Sentencing arguments are scheduled for July 15 and the penalties range from an absolute discharge to time in custody.

In today's statement, Fontana says he delivered his resignation to the city clerk and it is effective as of 10 a.m. He writes that this is not how he had envisioned his final days in office, but he "accepts the challenges before him."

He vowed not to return to office to focus on his family. "[My family] have sacrificed for me for 32 years. I will not return to public life.”