Sen. Bob Menendez will resign from his U.S. Senate seat following his conviction in his federal bribery trial, a source tells News 12 New Jersey.

The resignation will take effect on Aug. 20, according to a letter sent to Gov. Phil Murphy's office.

The Senate also received a copy of Menendez's resignation letter, according to Sen. Peter Welch of Vermont, who was presiding in the chamber on Tuesday.

"Without objection, the letter will be printed in the record and spread upon the journal," Welch said.

Menendez was convicted on July 16 for taking bribes for corrupt acts including acting as an agent of the Egyptian government. He insisted after the verdict that he was innocent and promised to appeal.

The resignation gives Murphy the ability to appoint someone to the Senate for the remainder of Menendez's term, which expires on Jan. 3. The seat was already up for election on Nov. 5. Democrats have nominated U.S. Rep. Andy Kim, who's in a strong position in the Democratic-leaning state. He faces Republican Curtis Bashaw.

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Menendez, 70, was convicted of charges that he sold the power of his office to three New Jersey businessmen who sought a variety of favors. Prosecutors said Menendez used his influence to meddle in three different state and federal criminal investigations to protect his associates. They said he helped one bribe-paying friend get a multimillion-dollar deal with a Qatari investment fund and another keep a contract to provide religious certification for meat bound for Egypt.

He was also convicted of taking actions that benefited Egypt's government in exchange for bribes, including providing details on personnel at the U.S. embassy in Cairo, ghostwriting a letter to fellow senators regarding lifting a hold on military aid to Egypt. FBI agents found stacks of gold bars and $480,000 in cash hidden in Menendez's house.

After his conviction, Menendez denied all of those allegations, saying “I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent.”

Menendez faces the possibility of decades in prison. A judge scheduled his sentencing on Oct. 29, a week before the election.

The Associated Press wire services contributed to this report.