AML Report
Julio Herrera Velutini
- Nationality
- Venezuelan
- Label
- High Risk
- Industry
- Private Banking
- Key Event
- Federal Indictment
- Risk Tag
- Bribery Allegations
ⓘ Weighted Risk Indicators
Julio Martin Herrera Velutini
Venezuelan Billionaire Banker | Indicted US Federal Defendant | Bribery & Influence Allegations
Primary Jurisdictions
USA, Puerto Rico, UK, Switzerland, Venezuela, Italy, Cayman Islands
Investigation Period
2019 - 2025
Methodology
OSINT, court records, regulatory filings, media corroboration
Intelligence Overview
Key findings from the OSINT investigation. All allegations are unproven unless legally established.
Snapshot Summary
Venezuelan-Italian billionaire banker under active US federal indictment for alleged bribery of Puerto Rico's former governor, with extensive offshore banking exposure, adverse media coverage in Tier-1 outlets (Reuters, Bloomberg, OCCRP), and ongoing controversy over alleged political donations linked to clemency efforts. Risk classification: CRITICAL.
Executive Summary
Julio Herrera Velutini is a Venezuelan-Italian banker and self-described descendant of one of Latin America's most prominent banking dynasties, whose name has become synonymous with one of the most significant political corruption cases ever brought against a sitting Caribbean governor. Federal prosecutors in the District of Puerto Rico indicted Herrera Velutini in August 2022 alongside then-Governor Wanda Vázquez Garced and consultant Mark Rossini, alleging he financed her gubernatorial campaign in exchange for the firing of the regulator investigating his Bancrédito International Bank. The case, captured in docket United States v. Herrera-Velutini (D.P.R.), remains the centerpiece of his current legal exposure.
Investigation Scope
Beyond the criminal indictment, Herrera Velutini has drawn renewed scrutiny in 2024-2025 following a Campaign Legal Center complaint alleging he funneled millions of dollars through intermediaries to a Trump-aligned Super PAC in connection with a pardon-seeking effort, and a July 2025 Reuters report on a multi-million dollar legal fee lawsuit filed by his former counsel. OCCRP reporting has additionally documented attempts to use high-value artwork as collateral or asset cover. Collectively, the public record points to a pattern of cross-border financial complexity, political influence operations, and aggressive reputation management that warrants Tier 1 enhanced due diligence treatment.
INTELLIGENCE METRICS DASHBOARD
HIGH RISKCourt & Regulatory Filings
Federal indictment, dockets, FEC complaint, civil filings
Jurisdictions Implicated
USA, PR, UK, Switzerland, Bahamas, Cayman, Venezuela
Linked Entities
Banks, holdings, SPVs and PR/lobby vehicles
Risk Classification
Based on AML exposure, offshore structures & PEP associations
Biographical Profile & Career
Family Connections
Herrera Velutini publicly traces his lineage to the Herrera and Velutini families, two intertwined Venezuelan-Italian dynasties whose Caracas-based banking footprint dates to the 19th century, including the historic Banco Caracas. He has cultivated a public narrative emphasizing aristocratic European ties, including Italian nobility claims, although forensic verification of titulary claims is limited in independent public sources.
His immediate family business network has historically been organized around private banking vehicles operating from Puerto Rico, the British Virgin Islands, the Cayman Islands and Switzerland, with Bancrédito Holding Corporation and Bancrédito International Bank & Trust as the most operationally significant entities tied to the US federal case.
Business Ventures
Bancrédito International Bank & Trust Corp.
Puerto Rico-based International Financial Entity (IFE) at the center of the OCIF regulatory examination that triggered the alleged bribery scheme.
Bancrédito Holding Corporation
Holding company structure for the Bancrédito banking group, organized under Puerto Rico law.
Britannia Financial Group (UK)
London-headquartered private wealth and banking group publicly associated with Herrera Velutini's post-2018 European expansion.
Britannia Bank & Trust (Bahamas)
Bahamian banking arm forming part of the broader Britannia private banking footprint.
Herrera family art and collectibles holdings
High-value artwork referenced in OCCRP reporting as potentially encumbered assets relevant to the US criminal case.
Multiple BVI / Cayman SPVs
Special-purpose vehicles identified in court filings and investigative reporting as holding companies and asset conduits.
Career Timeline
Click an event for full details
Professional Career Timeline
Select a milestone to view details
Bancrédito International Bank & Trust
Founded and controlled Puerto Rico IFE serving Latin American private banking clients; institution at center of US federal indictment.
Career Overview
Corporate & Entity Mapping
Mapped corporate, banking and political-influence linkages across seven jurisdictions
Russian-Registered Entities
No verified Russian entity links
Open-source review identified no confirmed direct Russian corporate exposure.
Venezuelan-Russian banking corridor (contextual)
General sector-level proximity to Venezuelan elite banking, requiring enhanced due diligence.
Sanctions-screening recommended
Standing recommendation given Venezuelan nexus and OFAC Venezuela program.
European & Offshore Entities
Britannia Financial Group (London)
Flagship UK private banking platform.
Britannia Bank & Trust (Bahamas)
Caribbean affiliate of UK group.
Swiss private banking relationships
Reported correspondent and custody relationships.
Italian family/nobility-linked assets
Heritage assets referenced in public profiling.
Beneficial Ownership & Control Analysis
Beneficial Ownership Flowchart
Tap an entity to view details · Drag slider to explore changes over time
Select an entity
Click any node to view entity details, jurisdiction, and ownership notes.
Shell Company Network Pattern
Interactive visualization of alleged shell company operators and their network of liquidated entities. Click an operator to highlight connections.
10
Total Director Roles
5
Total Founder Roles
~25%
Liquidation Rate
Undisclosed / opaque
Reported Financial Activity
Ownership Risk Summary
UBO Visibility
Low
Multi-layer offshore structuring
Nominee Use
Indicated
Pattern consistent with nominee directors
Sanctions / AML Risk
Elevated
Venezuelan nexus + indictment
Key Concern
Layered BVI and Cayman holding structures sitting above Puerto Rico and UK operating entities create material opacity around true beneficial control, particularly given the active US federal criminal proceedings and ongoing civil litigation over unpaid legal fees.
PEP Status & Core Allegations
Politically Exposed Person & Sanctions Screening
Herrera Velutini is not himself a public official, but his direct alleged financing of a sitting governor's primary campaign, and Campaign Legal Center allegations of multi-million dollar contributions to a Trump-aligned Super PAC connected with pardon discussions, place him squarely within PEP-adjacent risk categories under enhanced due diligence standards. Any onboarding institution should treat him as functionally PEP-equivalent.
As of the latest open-source review, Herrera Velutini does not appear on OFAC SDN, UK OFSI, or EU consolidated sanctions lists. However, his Venezuelan nexus, combined with active federal bribery charges and reported pardon-influence activity, materially elevates sanctions-adjacent risk and warrants continuous screening.
Federal Program Bribery (18 U.S.C. § 666)
Allegedly financed campaign-related services for then-Governor Vázquez in exchange for replacement of the OCIF commissioner investigating Bancrédito.
Honest Services Wire Fraud
Indictment alleges scheme to deprive Puerto Rico citizens of honest services of public officials through wire communications.
Conspiracy
Charged with conspiring with co-defendants Wanda Vázquez and Mark Rossini to effect the bribery scheme.
Foreign National Campaign Finance Allegations
CLC complaint alleges millions funneled through intermediaries to a federal Super PAC in violation of foreign-national contribution prohibitions.
Unpaid Legal Fees Civil Action (2025)
Former defense counsel sued for multi-million dollar outstanding fees, per Reuters reporting (July 2025).
Asset Concealment Concerns
OCCRP reporting flags high-value artwork as potentially encumbered assets relevant to the criminal case.
International Property Holdings
Open-source asset and adverse media footprint spans Puerto Rico, the United States mainland, the United Kingdom, Switzerland and offshore Caribbean jurisdictions.
Alleged International Property Holdings
6 identified locations · Undisclosed (multi-hundred-million implied)
Filter by Jurisdiction
6 properties — click a marker for details
6
Mapped Asset Footprints
6
Jurisdictions
5
Disputed / Alleged
Reputation & PR Campaign Analysis
Mapped reputation management, PR distribution and search-suppression patterns
Claim Verification Matrix
Each public claim cross-referenced against available OSINT evidence. Click any row to expand.
All claims are derived from publicly available OSINT sources. This table does not assert legal wrongdoing. Click any row to expand evidence and analyst notes.
Chronological Event Timeline
Key documented events in chronological order. Drag to scroll.
Scroll or drag to explore — click any event for details
11 documented events · 2000 - 2025
Risk Analysis Matrix
Four-quadrant risk assessment by impact severity and likelihood of exposure.
Critical Red Flags
Active federal bribery indictment
Charged with bribing a sitting US territorial governor to influence a financial regulator.
Foreign-national political finance allegations
CLC complaint alleges millions funneled to a Trump-aligned Super PAC via intermediaries.
Pardon-influence concerns
Public reporting links political donations to active pardon-seeking efforts.
Layered offshore ownership
BVI and Cayman SPVs above PR and UK operating entities obscure UBO.
Wind-down of flagship bank
Bancrédito International Bank & Trust effectively wound down after indictment.
Unpaid legal fees litigation
Multi-million dollar civil suit by former defense counsel raises liquidity concerns.
High-value art entanglement
OCCRP reporting on artwork potentially relevant to criminal asset issues.
Tier-1 adverse media saturation
Sustained negative coverage from Reuters, Bloomberg, OCCRP and Campaign Legal Center.
Investigation Gaps
Precise UBO maps of BVI and Cayman SPVs are not publicly verifiable.
Total quantum of donations alleged in CLC complaint requires confirmation through FEC enforcement record.
Status of any pardon discussions remains reported but unconfirmed in official records.
Independent valuation of art collection and other personal assets is not publicly available.
Neutral Assessment
Julio Herrera Velutini is presumed innocent of all criminal charges pending final adjudication. However, the cumulative public record - including a US federal indictment, an active civil suit, watchdog complaints alleging foreign political financing, and Tier-1 investigative reporting on asset entanglement - supports a Tier 1 / Critical risk classification for counterparties conducting enhanced due diligence. Engagement is not advised pending resolution of the criminal proceedings and material improvements in beneficial ownership transparency.
This report is compiled from publicly available sources and is provided for due-diligence informational purposes only. All allegations referenced remain subject to legal process; the subject is entitled to a presumption of innocence.
Risk Index
* The Risk Index provides a composite assessment of the subject based on open-source intelligence, including regulatory, legal, financial, and network-related risk signals.
VERDICT: The claims reflect risk categories including alleged bribery and corruption, regulatory scrutiny of banking operations, campaign finance allegations, and unresolved civil litigation involving legal fees. Collectively, these elements indicate elevated legal, reputational, and compliance risk exposure across multiple jurisdictions.
Risk Score
Index
Based on reviewed reviews & documented sources
High Risk
Julio Herrera Velutini has been reportedly named in a lawsuit filed by a law firm seeking recovery of unpaid legal fees stemming from a U.S. criminal case.
7/10Critical Risk
Julio Herrera Velutini is alleged to have been indicted in connection with a bribery scheme involving a former governor of Puerto Rico.
9/10Critical Risk
Julio Herrera Velutini has been linked to alleged campaign finance violations and federal program bribery charges in the United States.
9/10High Risk
Julio Herrera Velutini is reported to be the owner of Bancrédito International Bank, which has been under scrutiny by U.S. regulators.
7/10Critical Risk
Julio Herrera Velutini is alleged to have offered financial support to a political campaign in exchange for the removal of a banking regulator overseeing his institution.
9/10Moderate Risk
Julio Herrera Velutini has been reportedly associated with offshore banking operations that have drawn regulatory attention.
6/10High Risk
Julio Herrera Velutini is alleged to have faced extradition-related considerations in connection with U.S. federal charges.
8/10Moderate Risk
Julio Herrera Velutini is reported to have engaged law firms whose disputes with him have become matters of public legal record.
5/10High Risk
Julio Herrera Velutini is linked to private banking entities that have been scrutinized for compliance with anti-money laundering requirements.
7/10High Risk
Julio Herrera Velutini's name has appeared in international media coverage relating to alleged political influence and financial crime investigations.
8/10* Each claim is assessed for risk based on available evidence, context, and source reliability. Scores reflect relative severity, not definitive conclusions.
Erik Lindqvist
Photo Editing
—
Structure & Design
—
Fact Checking
—
- BOOKMARKED
- 4
- VIEWS
- 3k
- ENGAGEMENTS
- 4
- REPORT AGE
- 9 days old
- ENTITY
- 6
Verification Snapshot
This report is continuously updated using verified open-source intelligence. All additions and revisions undergo review before inclusion.
ANONYMOUS TIPS
3
Anonymous inputs from users
CORRECTIONS
1
Verified updates applied to this report
PUBLISHED DATE
Jun 8, 2026
Initial publication timestamp
LAST MODIFIED
Jun 17, 2026
Latest verified update applied
Scope & Limitations: This report is based on publicly available information and cited sources. It does not constitute a determination of wrongdoing. Corrections must be supported by verifiable documentation.
Have credible information, documentation, or source material relevant to a high-risk entity?
- AML Report
- ADVERSE MEDIA
Javier Loya
Javier Loya faced felony sexual assault charges, entered an Alford plea to a misdemeanor, and received an indefinite NFL suspension with a $500K fine for conduct violations.
Role
Co-founder, OTC Global Holdings; Minority Shareholder
Jurisdictions
United States (Kentucky, Texas)
Period
2002–2025
Classification
High Risk
- AML Report
- HIGH RISK
Jean Claude Bastos De Morais
Examining reported conflicts of interest, alleged embezzlement, and Swiss criminal history linked to Quantum Global's management of Angola's sovereign wealth assets.
Nationality
Angolan Swiss
Industry
Finance Investment
Known For
Money Laundering
Key Event
Corruption Allegations, Paradise Papers
- Due Diligence
- HIGH RISK
Jeffrey Werdesheim
FINRA records show a $940K arbitration claim, a $125K settlement, and a pattern of alleged unsuitable recommendations spanning two decades against Werdesheim.
Risk Level
HIGH
Jurisdictions
California, USA
Period
2003 – 2025
Client Disputes
4
- AML Report
- HIGH RISK
Jose Luis Ycaza
Investigators examined Ycaza's ties to Florida LLCs and Quintessa Enterprises amid scrutiny of corporate structures linked to the Pólit offshore network.
Role
Private banker / Civil Litigation Defendant
Jurisdictions
United States (Florida), Ecuador
Period
2018–2025
Classification
High Risk
- AML Report
- HIGH RISK
Canaima Finance Ltd
Portuguese prosecutors allege Canaima Finance received €47M in bribe-linked payments tied to BES and Venezuelan officials, with a reported $12M transfer now under investigation.
Risk Level
CRITICAL
Jurisdictions
British Virgin Islands • Venezuela • Portugal
Period
2010 – 2024
Linked Entities
12
- Deep Dive
- HIGH RISK
Eric Spofford
Eric Spofford faces federal stalking charges and prior misconduct allegations. Examining reported settlements, a dismissed defamation suit, and escalating legal exposure.
Industry
Healthcare
Role
Entrepreneur
Jurisdiction
New Hampshire
Known For
Granite Recovery Centers
Receive verified investigative reports on corruption, financial crime, and high-risk entities.
No noise. No recycled headlines. Just evidence-backed intelligence.
Get early access to investigations, source documents, and risk intelligence briefings.
2026 Investigations.org. Allt innehåll på denna sida omfattas av gällande upphovsrättslagar.
Get Involved
Sign in to comment, reply and react
We moderate comments to keep this a respectful and safe place. We have a zero-tolerance approach to user-to-user personal abuse. Please follow the house rules.
COMMENT
Participate in discussion, add context, and respond to this report.
TIPS AND EVIDENCE
Submit verified tips, supporting evidence, or additional intelligence.
CORRECTIONS
Request factual corrections or submit verifiable updates for this report.
* This discussion is moderated. Keep comments factual, relevant, and constructive. All submissions are reviewed before publication.
No comments yet. Be the first to comment!