In Fable and Fable: TLC, leave the area and wait for the timer (8 minutes, I believe) After it expires, it will erase your crimes, and the guards will leave you be.
In Fable II, leave the area and return. The guards will then simply try to arrest you again, at which point you can either pay the fine or do a Bounty Hunt quest as community service. Optionally: let them knock you out after drawing in all nearby experience.
In Fable III you can either leave the area, hide somewhere, or let them come to you and arrest you. If you let them arrest you you can either just pay the fine or do community service (perform a job) to pay off your debt.