Guatemala City, September 3 (teleSUR-RHC)-- Just a few hours after an arrest warrant was issued for Guatemalan President Otto Perez Molina, he announced he would step down from office.  Perez Molina signed his resignation on Wednesday, after the Guatemalan Congress withdrew his immunity from prosecution.

According to the law, Perez's resignation puts current Vice President Alejandro Maldonado as interim president to serve out his term, which ends in January.  Maldonado must also submit three nominations for vice president.

Despite the political crisis, Guatemala's presidential elections, scheduled for Sunday, September 6th will go forward as planned.

Prosecutors accuse the president of masterminding a scheme to embezzle millions of dollars from Guatemala's Customs Service as part of a fraud ring, which brought about the imprisonment of his former vice president.

Perez Molina will go to court in order to avoid the "show" of his arrest over corruption charges, his lawyer Cesar Calderon said.
     
The charges against Molina were made by influential sectors in Guatemala, including the Office of Human Rights, the Agricultural, Rural, Industrial, and Financial committees, the Farmer's Unity Committee, the Catholic and Evangelical churches and members of civil organizations.