Julio Herrera Velutini's Attorney Announces Dismissal of All Major Charges Against the Banker: "The Evidence Did Not Support the Allegations," He Stated

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SAN JUAN, Puerto Rico, Aug. 29, 2025 /PRNewswire/ -- After more than three years of intense judicial scrutiny, the federal case against Venezuelan-British banker Julio Herrera Velutini, founder of the international conglomerate Britannia Financial Group, has reached a definitive resolution, reported here by MP Publishing.

According to his attorney, Alex Spiro of Quinn Emanuel Urquhart & Sullivan LLP, the U.S. Department of Justice has agreed to fully dismiss the seven serious charges previously filed against him — including conspiracy, federal program bribery, and honest services wire fraud — leaving the matter reduced to a minor technical violation in the area of campaign finance.

"Mr. Herrera Velutini has accepted responsibility for a technical infraction, but it is important to make clear that all corruption charges were entirely withdrawn. This resolution reflects the U.S. government's own recognition that the facts never supported the serious accusations initially brought," stated Alex Spiro.

The agreement, first disclosed in court filings on June 16 and formalized before the court on August 27, establishes that Herrera Velutini admitted responsibility for a single count of unlawful political contribution under 52 U.S.C. § 30121. The matter is limited to an express or implied promise of financial support — estimated between $2,000 and $25,000 — to the primary campaign of former Puerto Rico Governor Wanda Vázquez in March and April 2020.

According to the defense, no funds or assets of any kind were ever delivered, and no finding of corruption or fraud was made. "This was an offer by the island's most prominent international banker at the onset of the pandemic crisis to help her government and her candidacy stabilize Puerto Rico in a time of crisis. My client never acted on that promise, as his legal team advised him he could not do so in his own name. That is why no funds or anything of value were ever provided," said Spiro.

The attorney emphasized that this brings closure to a process that casts an unfair shadow over his client. "The agreement confirms what the defense maintained from day one: that there was no quid pro quo, no bribery conduct, and that the evidence did not support those allegations. This reaffirms my client's innocence with respect to corruption or fraud," Spiro added.

With this resolution, one of the most high-profile episodes faced by the discreet banker comes to a close. Julio Herrera Velutini, the steward of a seven-generation family legacy that has shaped financial development across Europe and the Americas, is now looking ahead. "Mr. Herrera Velutini is ready to move forward, with the peace of mind that justice has finally recognized the truth of the facts," his attorney concluded.

SOURCE MP Publishing