Indicted Oyster Bay Town Supervisor John Venditto has announced his resignation.

In a statement released Tuesday, Venditto said he felt it was in the best interests of the town. He said it would "be difficult, if not impossible," for him to function as the town supervisor as he focused on clearing his name.

Venditto, along with Nassau County Executive Edward Mangano and his wife, were indicted in October on federal corruption charges. Authorities allege that Mangano and Venditto schemed "to solicit bribes and kickbacks" from a businessman. Specifically, Venditto is accused of accepting limousine service for more than two years. He also accepted discounted rates for fundraisers at the businessman's restaurant, prosecutors said. 

Mangano's wife is charged with accepting a $450,000 no-show job at the businessman's restaurant.

All three have pleaded not guilty to the charges.

Newsday reports the resignation will take effect at the end of Wednesday.

Venditto has held his office since 1998. Prior to serving as Oyster Bay town supervisor, he was town attorney for six years. He spent the 1980s on the town council.