Romanian Prime Minister Victor Ponta, who faces charges of forgery, money laundering and tax evasion, announced Sunday that he will stand down as leader of the ruling PSD party until prosecutors have completed their criminal investigation into him, Reuters reports. Prosecutors say Ponta received 40,000 euros and a luxury car from the law firm of a man he later appointed to the position of transport minister. Ponta denies wrongdoing and says the charges are politically motivated.