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FinCEN, the Financial Crimes Enforcement Network of the U.S. Treasury, "In the matter of Bancrédito International Bank and Trust Corporation" included the following description: "Customer A, an associate of Executive A, was a Venezuelan national with residences in Venezuela, and Miami, Florida. Customer A opened a personal banking account at Bancrédito in March 2014. At the time Customer A opened his account, Customer A was publicly named in a civil lawsuit stemming from a connection to a criminal Venezuelan Ponzi and bribery scheme." [bold added] The civil lawsuit is: Carney v. Beracha et al. 3:12-cv-00180. The Venezuelan Ponzi and bribery scheme is known in Venezuelan circles as Francisco Illarramendi's PDVSA pension funds scandal in which Moris Beracha had a key role ("Customer A"). Now FinCEN places Beracha at the core of Julio Herrera Velutini's ("Executive A") money laundering operation.
More from FinCEN: "Beginning in 2016, Bancrédito expanded its services to provide U.S. dollar denominated correspondent accounts for foreign financial institutions—that is, it permitted foreign financial institutions to hold U.S. dollar-denominated accounts at Bancrédito. The Bank provided such services to foreign financial institutions operating in Central America and the Caribbean, although often the counterparties, the ultimate senders and recipients, were located in Venezuela. As such, during the Relevant Time Period, Bancrédito’s customer base and aspects of its business model put it at an elevated risk for AML concerns, as described herein. In January 2023, OCIF issued a Complaint and Order of Provisional and Permanent Appointment of Receiver (Receivership Order), where it, among other things, appointed a receiver to complete Bancrédito’s liquidation and administer its assets."
Herrera Velutini got into this problem by bribing Wanda Vazquez, a politician from Puerto Rico charged by the Justice Department in a bribery scheme. In London, Herrera Velutini's controversial donations to the Conservatives and the Platinum Jubilee also draw media attention. Puerto Rico authorities reported that over $10 billion might have gone through Herrera Velutini's Bancredito between October 2016 and December 2020.
Herrera Velutini is reportedly concerned about fate of his art collection (first world problem), some of which he acquired through Leopoldo Lopez's sister in law (Valentina Tintori).
FinCEN also mentioned "Customer B" in its findings. Customer B could be a number of people, but it is our opinion that Adrian Velasquez Figueroa fits the description better than most.
