A Covington mayoral candidate charged with theft for allegedly stealing the yard signs of a political rival is dropping out of the race, Channel 2 Action News reports.

Speaking after police Tuesday released undercover video showing him accepting 50 stolen signs from an undercover informant, Bobby Sigman told Channel 2 that he was “tired of seeing my supporters raked over the coals for nothing.”

Sigman, who has not yet officially notified the Newton County Board of Elections that he was quitting the campaign, denied having done anything with criminal intent, “although I made some bad decisions.”

Covington police have said that after receiving a complaint that mayoral candidate Ronnie Johnston's signs were being stolen, Covington police set up a sting operation, and the video resulted.

The 70-year-old Sigman said the video showing him picking up a pile of signs “were signs I found on the right-of-way, and I planned to return them” to Johnston. “I did not steal any of his signs,” Sigman said.

Sigman has been charged with making false statements within a political subdivision, theft by taking and criminal trespass, all misdemeanors. He is free on $3,500 bond while awaiting trial.

A former Covington city councilman and state representative, Sigman ran for mayor twice previously, in 1999 and 2003.

-- Staff writer Joel Provano contributed to this article.