Inside Story of a Tycoon’s Bid for a Trump Pardon: Family Shells Out $50 Million to Retain Trump’s Defense Lawyer for Negotiations
Billionaire banker Julio Herrera Velutini sought a presidential pardon from Donald Trump. According to interviews and documents obtained by The New York Times, the prominent Herrera Velutini family hired Alina Habba—a former personal attorney to Trump who also served as an advisor to the Department of Justice—offering her a four-year contract with an annual salary of $10 million, plus bonuses totaling at least $50 million.
The New York Times reported that Herrera Velutini, who was born in Venezuela and holds Italian citizenship, hails from a family with a business legacy dating back to the 14th century, spanning the banking, real estate, and fashion industries.
In 2008, Herrera Velutini founded a bank in Puerto Rico. In August 2022, he was indicted on charges of bribing the then-governor, Wanda Vázquez, in an alleged attempt to secure the removal of regulatory officials who were investigating his bank. All three defendants in the case have pleaded not guilty.
In August 2025, with the assistance of attorney Christopher M. Kise—a former Solicitor General of Florida and a member of Trump’s personal legal team—Herrera Velutini reached a notably lenient plea agreement with the Department of Justice, pleading guilty to only a single misdemeanor charge related to campaign finance.
Vázquez and a former FBI agent also pleaded guilty to misdemeanor charges—an outcome that left prosecutors, who had pushed for harsher sentences, deeply disappointed.
Nevertheless, Herrera Velutini viewed the conviction as a blemish. His 27-year-old daughter, Isabela Herrera—a U.S. citizen—donated $3.5 million to a pro-Trump super PAC, yet no pardon was forthcoming.
Consequently, the Herrera Velutini family hired Habba to serve as the chief legal officer of a firm called “Concord Partners.” The company was incorporated in Florida by Isabela Herrera in late October 2025; however, it has no public filings, and even some individuals within the family’s business empire are reportedly unaware of its operations. Habba finalized her contract just days after registering the firm, assuming the role of “coordinating partner” on January 1, 2026. At the time, she also served as a senior advisor to then-Attorney General Pam Bondi—with oversight responsibilities for federal prosecutors—in the capacity of a “special government employee,” a status that allows for outside employment.
Within weeks of Habba taking on the role, Trump granted a full and unconditional pardon to Verrutini.
Individuals familiar with the contract between the Verrutini family and Habba indicated that she was brought on specifically to help secure the pardon, and noted that she expressed surprise at the high level of compensation.
Habba has denied any involvement, stating in a release: “Any suggestion that my engagement—which was fully vetted and disclosed to the Department of Justice—was connected to the granting of a pardon is false.”
The Department of Justice stated that Habba did not discuss the pardon with anyone, while White House officials maintained that the administration followed established review procedures, involving both the White House Counsel’s Office and the Department of Justice.