Rep. Michael Grimm apologizes for tax evasion, but vows to stay in office

New York Rep. Michael Grimm vows to stay in office, despite pleading guilty to a felony.

The Republican from Staten Island already gained notoriety for threatening to hurt a journalist. Now, he admits hiding money from the IRS, reports CBS News correspondent Major Garrett.

Grimm faces up to three years in prison for a tax evasion scheme that concealed revenue and off-the-books cash payments to undocumented workers at the Healthalicious restaurant he co-owned and managed.

After pleading guilty, Grimm said he would not resign but also sounded apologetic.

"I am truly, truly sorry for the mistakes that I made. ... As long as I am able to serve I am going to serve, as of right now I am still in the capacity to serve," Grimm said Tuesday.

House Speaker John Boehner withheld comment until speaking with Grimm. House Republicans said Grimm's future would likely be decided after the Christmas holiday.

In a statement, House minority leader Nancy Pelosi said, "Speaker Boehner must insist that Congressman Grimm resign immediately." She was the first Democrat to do so.

A 20-count federal indictment was handed down against Grimm in April. The former FBI agent and Marine said at the time that he would carry on

"I know I am a moral man, a man of integrity," Grimm said. "And I also know I have a lot more service and leadership to provide this country."

Grimm drew national attention for this fiery State of the Union encounter with a NY1 reporter Michael Scotto. The correspondent wanted to ask about campaign finance irregularities.

"I'm not speaking about anything that's off topic. This is only about the president's speech," Grimm told the reporter.

When the reporter went back on camera saying Grimm refused to speak about the topic, Grimm came back and threatened the reporter.

"Let me be clear to you, you ever do that to me again I'll throw you off this [expletive] balcony," Grimm could be heard saying, though off-mic.

While running for re-election, Grimm faced the indictment issue during a debate.

"If found guilty, would you resign?" the moderator had asked.

"Certainly, if I was not able to serve then of course I would step aside and there would be a special election," Grimm had said.

Grimm won re-election by 13 points despite the indictment and no financial support from Beltway Republicans.

Grimm prevailed politically but his guilty plea and subsequent sentencing, due in June, may bring his Congressional career to an end.