Career and finance, in date order
Julio Herrera Velutini is a Venezuelan-born banker whose career spans Britannia Financial Group and Bancrédito International Bank & Trust Corporation. This guide sets out his career and the financial and regulatory events around it in date order, from the 2008 Bancrédito founding to the October 2026 reporting on Concord Partners.
Dates come from regulators, courts and news reports; company-founding years come from biographies and should be checked against corporate records. Media outlets often describe him as a billionaire; JournoPulse has not independently verified net worth.
Career and finance timeline
Major business, regulatory and legal events, oldest first.
Entry into banking
After school in England (graduated 1990), he began working in banking and finance in the early 1990s, according to his biography.
Bancrédito
Biographies identify the founding of Bancrédito International Bank & Trust Corporation in Puerto Rico.
Britannia Financial Group
Britannia Financial Group is cited as a milestone for his international financial services business.
Federal charges
In August 2022 he was charged in Puerto Rico alongside then-governor Wanda Vázquez Garced and Mark Rossini and pleaded not guilty.
$15M FinCEN penalty
FinCEN fined Bancrédito $15 million for Bank Secrecy Act violations.
Plea and Concord Partners
In August 2025 he pleaded guilty to a misdemeanor; in October 2025 his daughter registered Concord Partners in Florida.
Pardon and dismissal
Pardoned on 15 January 2026; the court dismissed the case on 27 January 2026.
NYT report
On 20 October 2026 The New York Times reported on Concord Partners' contract with Alina Habba.
Early career and training
Herrera Velutini was born in Caracas in 1971 and, according to his biography, finished at The American School in England in 1990. He began working in banking and finance in the early 1990s and is described as representing the seventh generation of bankers in his family. Details of his earliest employers are not consistently documented in independent sources.
Britannia Financial Group
Britannia Financial Group is the international financial services business most often named as his, and news outlets describe him as its founder. The group's own materials and biographies cite 2016 as a milestone year. Claims about the group's assets, clients or performance come largely from company-controlled sources and should be checked against regulatory filings.
Bancrédito International Bank & Trust Corporation
Bancrédito was a Puerto Rico–based international financial entity linked to Herrera Velutini and is now in liquidation. In September 2023 the U.S. Financial Crimes Enforcement Network fined it $15 million for Bank Secrecy Act violations, including late suspicious-activity reports between October 2015 and May 2022 and weak monitoring of high-risk accounts, with Venezuela-related entities cited. JournoPulse coverage also reports that depositors were repaid during the wind-down.
The legal case and its financial dimension
Prosecutors alleged that campaign contributions to Wanda Vázquez Garced's 2020 re-election bid were tied to a promise to remove Puerto Rico's financial regulator. After a plea to a single misdemeanor campaign-finance violation in August 2025, he was pardoned in January 2026. Campaign Legal Center has alleged that contributions may have been financed through his daughter; that is an allegation, not a finding.
Concord Partners and the October 2026 reporting
The New York Times reported on 20 October 2026 that Concord Partners, formed in October 2025 by Isabela Herrera, hired Alina Habba as general counsel on a package worth more than $50 million over four years, and that Habba began on 1 January 2026. Habba says she had no involvement in the pardon and the White House denied any connection. Reporters noted it is unclear what the company does. Isabela Herrera is also reported to have donated $3.5 million to MAGA Inc.
What to watch next
Readers following the story should watch for responses to the Times report, any congressional or ethics review of Habba's outside employment, the status of the Bancrédito liquidation, and further disclosures about Concord Partners. JournoPulse tracks these on its Bancrédito Latest page.
Frequently asked questions
What businesses is Julio Herrera Velutini associated with?
Britannia Financial Group, Bancrédito International Bank & Trust Corporation (now in liquidation) and, through his family, Concord Partners and the Banvelca Foundation.
What was the $15 million FinCEN penalty?
In September 2023 FinCEN fined Bancrédito $15 million for Bank Secrecy Act violations, including failures to file timely suspicious activity reports and weak monitoring of high-risk accounts.
Is Julio Herrera Velutini a billionaire?
Many news outlets describe him as one, but JournoPulse has not independently verified his net worth.
What is Concord Partners?
A company registered in Florida in October 2025 by his daughter Isabela Herrera. The New York Times reported it hired Alina Habba as general counsel; what the company does has not been clearly reported.
Sources and references
- Julio Herrera Velutini — Wikipedia
- Puerto Rico Banker's Pardon Draws Scrutiny — Rio Times
- Venezuelan Billionaire Won Trump Pardon Weeks After His Family Gave Alina Habba a $50 Million Job — uPolitics
- Trump pardoned Venezuelan billionaire after family offered Alina Habba $50 million deal — Law Commentary
- Hija de Julio Herrera Velutini donó $2.5 millones — El Nuevo Día
Timeline compiled from regulators, courts and published reporting available on 25 October 2026. Company founding years come from biographies. Allegations are attributed to the outlets that reported them. To request a correction, use our Right of Reply page.
