A Venezuelan billionaire with longstanding family ties to banking, real estate, and fashion secured a full pardon from former President Donald Trump following a controversial legal process. Julio Herrera Velutini, a member of the Herrera family dynasty dating back to the 14th century, was charged in 2022 with bribery related to a scheme aimed at dismissing a Puerto Rican regulator investigating his bank. Herrera pleaded guilty in August 2025 to a single misdemeanor campaign finance violation and was pardoned by Trump shortly before sentencing, along with co-defendants—former Puerto Rico Governor Wanda Vázquez and a former FBI agent—who also pleaded guilty to misdemeanors.
The pardon came weeks after attorney Laura Habba, who had served as a U.S. attorney in New Jersey and as a senior adviser to then-Attorney General Pam Bondi, began working for Concord Partners, a firm associated with the Herrera family, on January 1 of the same year. Habba held a position described as a special government employee, which permits federal employees to work part-time while maintaining outside employment under strict conflict-of-interest rules. The timing of Habba’s employment and Herrera’s pardon has drawn scrutiny and speculation regarding any involvement she may have had in influencing the pardon.
Habba has denied any connection to the pardon, stating that her employment was fully vetted and disclosed to the Department of Justice (DOJ), and insisted that she did not engage with anyone about the pardon matter. A spokesperson for the DOJ concurred with Habba, affirming she did not discuss the pardon with any department officials. A White House official also affirmed that Habba played no role in the pardon process, which they said adheres to formal reviews involving the White House Counsel and the Justice Department.
The Trump administration’s second term saw an uptick in attempts by wealthy defendants to secure pardons, often through high-priced legal teams or lobbyists offering influence within the administration. Many seeking clemency reportedly align themselves politically with Trump’s agenda to improve their chances of success.
Habba’s professional and personal life gained additional attention amid the controversy. She and Julio Herrera were married recently in a high-profile New York ceremony attended by prominent figures, including Attorney General Todd Blanché, FBI Director Kasim Patel, and White House Counsel Will Scharf. The couple is currently engaged in a public dispute with Trump ally Richard Grenell over allegations concerning a misallocated donation to the John F. Kennedy Center for the Performing Arts. Habba presented the allegations to Trump, prompting an investigation led by Scharf into a related financial transaction involving a bank transfer from the Democratic Republic of Congo to a Texas defense company.
Following the pardon, Herrera was recently elevated to lead Banvelca, the Herrera family office established in 1781. Despite his felony indictment and subsequent guilty plea, company statements and Hernandez’s official biography make no reference to the legal proceedings.
Requests for comment from Herrera, his wife, and their associated companies went unanswered. The sequence of events surrounding the pardon continues to raise questions about the intersection of politics, justice, and high-level influence.