New York, New York - Calls for newly indicted New Jersey Senator Robert Menendez to resign are growing, with New Jersey Governor Phil Murphy saying the charges announced Friday were "deeply disturbing."

In one of several allegations, the Justice Department said Menendez had provided sensitive information to the Egyptian government in order to help an Egyptian-American businessman protect his monopoly.

It was the second corruption indictment in eight years against the 69-year-old politician and may place into question his hold on his seat in Congress and the Democratic Party's slim majority in the Senate.

Hours after the indictment Menendez stepped down "temporarily" as chairman of the Foreign Relations Committee, a position that had given him significant influence over US foreign relations.

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"The senator and his wife accepted hundreds of thousands of dollars in bribes in exchange for Senator Menendez using his power and influence to protect and to enrich those businessmen and to benefit the government of Egypt," said Damian Williams, the federal prosecutor for the Manhattan, New York district.

In a statement, Menendez called the allegations "baseless" and characterized the indictment as a personal attack on him and his wife Nadine, who was also indicted.

"They have misrepresented the normal work of a Congressional office," he said.

"This is the same record of success these very same leaders have lauded all along. It is not lost on me how quickly some are rushing to judge a Latino and push him out of his seat. I am not going anywhere" he added.

Prosecutors said they found more than half a million dollars in cash in Menendez's New Jersey home and in his wife's safe deposit box, allegedly received from three New Jersey businessmen seeking his help.

Much of the cash was stuffed in envelopes and boxes and hidden around their home, some tucked into jackets bearing his name.

Gold bars worth around $150,000 and a luxury Mercedes-Benz convertible, gifted by one of the businessmen, were also found.

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The beleaguered senator found little support among fellow Democrats.

"The alleged facts are so serious that they compromise the ability of Senator Menendez to effectively represent the people of our state. Therefore, I am calling for his immediate resignation," New Jersey Governor Phil Murphy said.

Democratic Rep. Dean Phillips of Minnesota agreed, saying: "I’m appalled. Anybody who pays attention – I don't care [about] your politics, Democrat or Republican, you should be appalled."

"A member of Congress who appears to have broken the law is someone who I should believe should resign."

Senate Majority Leader Chuck Schumer, meanwhile, praised Menendez as a "dedicated public servant" and underlined his "right to due process and a fair trial."