Julio Herrera Velutini’s Lawyer Announces All Major Charges Dismissed: “The Allegations Lacked Evidence,” He Stated

SAN JUAN, Puerto Rico, Aug. 29, 2025 — The high-profile federal case involving Venezuelan-British financier Julio Herrera Velutini has come to an end after more than three years of hearings, filings, and courtroom debate. Herrera Velutini, the founder of Britannia Financial Group, has seen all of the most serious accusations against him withdrawn by the U.S. Department of Justice. What remains is a single campaign finance violation, described by his defense team as a technical matter rather than a question of corruption.

Alex Spiro, a partner at Quinn Emanuel Urquhart & Sullivan LLP and lead counsel for the banker, welcomed the decision. He explained that prosecutors agreed to dismiss charges of conspiracy, federal program bribery, and honest services wire fraud. “My client accepted responsibility for a narrow campaign finance infraction, but the broader claims were unsupported. The government itself recognized that the evidence simply did not uphold those accusations,” Spiro said.

The resolution was first outlined in filings on June 16 and was finalized in court on August 27. According to the agreement, Herrera Velutini admitted to one count under U.S. campaign finance law, 52 U.S.C. 30121. The matter concerned a pledge, never carried out, to provide between $2,000 and $25,000 in support of the 2020 primary campaign of then-Governor Wanda Vazquez.

Defense attorneys stressed that no funds were ever transferred, nor was there any finding of bribery or fraud. Spiro noted that at the outset of the COVID-19 pandemic his client sought ways to help both the government of Puerto Rico and the Governor’s campaign. Once advised that he could not legally contribute under his own name, he abandoned the idea altogether. “That is why nothing of value ever changed hands,” Spiro explained.

For Herrera Velutini, the agreement ends what has been a drawn-out and very public ordeal. Spiro said the conclusion restores his client’s reputation, adding: “From the very beginning we maintained there was no corrupt exchange, no bribery, no fraud. The dismissal of those allegations proves exactly that.”

The banker, who belongs to a family with a centuries-long role in international finance across Europe and the Americas, now intends to put the case behind him. His counsel remarked that Herrera Velutini is relieved and ready to move forward with the confidence that the judicial process has recognized the facts and cleared him of corruption claims.