Rep. Bob Brady Won't Seek Re-election Following Campaign Finance Probe

PHILADELPHIA (CBS) -- Pennsylvania Democratic Congressman Bob Brady won't seek re-election following a campaign finance probe.

During a press conference on Wednesday afternoon, Brady said that "it's time for me to come home."

The powerful chair of the Democratic Party in Philadelphia made the announcement amid an FBI corruption investigation involving Brady's campaign.

Prosecutors have accused his campaign of illegally paying a 2012 primary challenger $90,000 to drop out of the race.

Brady denied an involvement.

"My lawyers have advised me, based on the statute of limitations, that I will not be charged in this case," said Brady.

Brady stated the investigation was not the reason he's calling it quits after 20 years in Congress.

"Today, I am choosing family over service," said Brady.

Brady's heavily Democratic district faces near certain changes now that a gerrymandering lawsuit has prompted the state Supreme Court to redraw boundaries of Pennsylvania's 18 congressional districts.

Brady said he never feared a loss if he were to run again, touting his accomplishments over the years.

"I brought back $15.5 billion to the city of Philadelphia and this region," said Brady. "There's nobody who could come in and do all the things that I've done."

Rep. Brendan Boyle, D-Pa., said in a statement that "no one has a bigger heart" than Brady.

"Since coming to Congress I've gotten to know Bob well. I value our friendship and working closely together to help the city we both love. Bob is a proud son of Philadelphia. He loves our city and would do anything to help anyone. No one has a bigger heart than Bob," said Boyle.

In October, two campaign aides to the longtime congressman made their first appearance in federal court following a grand jury indictment. The two were charged with conspiracy and related offenses. The government says Ken Smukler and Donald Jones paid off Brady's 2012 political rival, Judge Jimmie Moore, and tried to hide it.

Prosecutors say Smukler and Jones sent a total of $90,000 to Moore's campaign so Moore would drop out of the race. Authorities allege the pair tried to disguise the cash as an election poll.

Moore pleaded guilty to accepting payments. He resigned from his post as a judge in September.