Sen. Bob Menendez to resign from office Aug. 20

• The veteran New Jersey lawmaker plans to resign effective August 20, a source familiar with the matter told Axios.
• Senate Democrats had threatened to vote to boot him from Congress if he did not step down.

The big picture: Menendez faced massive pressure from his own party to resign after he was found guilty last week on federal bribery charges accusing him of accepting "hundreds of thousands of dollars" in bribes in exchange for wielding his influence to benefit foreign governments.

• Even Senate Majority Leader Chuck Schumer (D-N.Y.) publicly called on Menendez to resign.

Axios has reached out to Menendez's office for comment.

• Prior to his resignation, Menendez was serving his third Senate term.

Catch up quick: The senator was found guilty on all 16 felony counts to which he had pleaded not guilty.

• He and his wife, Nadine Menendez, were charged with conspiracy to commit bribery, conspiracy to commit honest services fraud and conspiracy to commit extortion under color of official right.

• Their initial September indictment was followed by superseding ones in October, January and March.

Flashback: Menendez was previously indicted on unrelated federal bribery and corruption charges in 2015. The case ultimately ended in a mistrial in 2017.

Editor's note: Axios' Ivana Saric and April Rubin contributed to this report.

Go deeper: Sen. Bob Menendez found guilty in corruption trial