Colombia's National Police chief has resigned amid investigations accusing him of running a male prostitution ring with other police officials.

Gen. Rodolfo Palomino announced his resignation during a news conference on Wednesday. He also denied the accusations being hurled against him, including propositioning police officers for sex and running a prostitution network, which is unofficially named as "The Fellowship of the Ring."

"I will be, in the next few minutes, submitting my resignation, knowing that I'm absolutely innocent of the charges brought against me," said Palomino. "I'm not guilty of any of those charges."

Colombian Investigator General Alejandro Ordoñez opened the investigation against Palomino 24 hours earlier. There are allegations that Palomino conducted illicit enrichment and illegal spying or tapping journalists' phones.

Ordoñez added that if the accusations against Palomino are confirmed, the former National Police chief could be charged with pimping, inducing individuals to prostitution and human trafficking.

A statement issued by the investigator general said that a video and testimony from police Captain Anyelo Palacios served as the main evidence of the prostitution ring, which ran between 2004 and 2008. The evidence will reportedly prove that members of the Colombian Congress were complicit in the illegal operation.

The video, which was recorded secretly, was released by local media and showed a 2008 discussion about gay sex between Palacios and former Senator Carlos Ferro. The conversation, however, did not directly mention the prostitution ring or Palomino. On Tuesday, Ferro stepped down from his position as vice minister of the interior.

The scandal first fired up in December after local radio journalist Vicky Dávila said that her personal communications device had been illegally spied on by the police while she investigated the issue. The Colombian police and intelligence agencies carried out "secret and unlawful" surveillance that permitted them to access mass Internet and cellphone information beyond the law's scope.

In December, Colombian President Juan Manuel Santos announced a special commission to investigate the allegations involving the National Police. Local media, however, reported that Santos didn't create the commission for another two months. Palomino is reportedly a trusted ally of the president.

While announcing his resignation, Palomino also discussed his 38 years of public service in the country and thanked those who supported him, including other generals in the National Police. Santos also expressed his thanks to Palomino for his service to Colombia and said that his resignation is a sign of his loyalty to his family.