Banker Pleads Not Guilty In Puerto Rico Bribe Scandal

By Elliot Weld (September 2, 2022, 6:12 PM EDT) — A banker charged last month with bribing the former governor of Puerto Rico in exchange for closing an investigation into his bank was arrested and pled not guilty earlier in the week. 

Julio Herrera Velutini, a London-based banker with citizenship in Venezuela and Italy, turned himself in on Wednesday in Puerto Rico and was ordered held on a $1 million bond, the Associated Press reported.

An indictment says a Puerto Rican bank that Velutini owned, Bancredito International Bank & Trust, came under investigation from Puerto Rican financial regulators in 2019. The Office of the Commissioner of Financial Institutions identified “dozens” of…

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