Trump pardon of Julio Herrera Velutini

In January 2026, President Donald Trump issued a full pardon to Venezuelan-Italian banker Julio Herrera Velutini, along with former Puerto Rico Governor Wanda Vázquez and a political consultant. Velutini had been indicted in 2022 for allegedly financing Vázquez’s reelection campaign in exchange for the removal of a banking regulator. While his charges were reduced to a misdemeanor in August 2025, the pardon was intended to clear his record.

The pardon has drawn scrutiny regarding potential conflicts of interest and political influence. Reports indicate that the Herrera family offered Alina Habba, a longtime Trump attorney and then-Justice Department adviser, a contract worth potentially over $50 million to serve as general counsel for Herrera’s firm, Concord Partners. This arrangement reportedly occurred while Habba was serving as a senior adviser to Attorney General Pam Bondi.

Additionally, the Herrera family made significant financial contributions to Trump-aligned entities, including $3.5 million to the MAGA Inc. political committee. Isabela Herrera, the banker’s daughter, also committed $2.5 million toward a White House ballroom project months before the pardon. The Campaign Legal Center has filed a complaint with the Federal Election Commission, alleging that Isabela Herrera acted as an intermediary for her father’s funds. The White House has maintained that the original legal proceedings against Velutini were “politically motivated” and that political contributions did not influence the clemency decision.