Jan 15, 2026
- Net worth
- Unknown
- Crimes
- bribery, wire fraud, conspiracy
- Convicted of
- Conspiracy (two counts); federal program bribery (two counts); honest services wire fraud (two counts)
- Original sentence
- N/A
- Time served
- N/A
Kumbalanga / Wikimedia Commons, CC BY-SA 4.0
Background
Julio M. Herrera Velutini is a Venezuelan-Italian banker and the owner of Bancrédito International Bank & Trust.
The Case
In August 2022, Herrera Velutini was indicted alongside former Puerto Rico Governor Wanda Vázquez Garced and former FBI agent Mark Rossini in a major public corruption and bribery scheme. Federal prosecutors alleged that Herrera Velutini and Rossini conspired to bribe Governor Vázquez Garced with more than $300,000 in campaign funds during her 2020 election bid. In exchange, the governor allegedly agreed to fire the commissioner of Puerto Rico’s financial regulatory body (OCIF), who was investigating Herrera Velutini’s bank, and replace him with a candidate selected by Herrera Velutini. The scheme was intended to stall or end the regulatory scrutiny of Bancrédito. Herrera Velutini was charged with conspiracy, federal program bribery, and honest services wire fraud.
The Pardon
On January 15, 2026, President Trump granted Herrera Velutini a full pardon. An amended pardon was issued on January 20, 2026.