All serious federal charges have been dropped against an international banker accused in a 2022 corruption probe. Only a minor campaign-finance violation remains after a negotiated resolution, his defense confirmed.
U.S. prosecutors have dismissed the main criminal counts in the long-running case involving the Venezuelan-born banker and philanthropist at the center of Puerto Rico’s 2022 political-finance investigation. His legal team, led by attorney Alex Spiro, confirmed that the Department of Justice formally dropped allegations of conspiracy, federal-program bribery, and honest-services wire fraud. The only charge left is a limited misdemeanor under 52 U.S.C. § 30121, relating to a campaign contribution made through improper channels.
Court filings show that the decision followed months of evidence review and legal motions that narrowed the scope of the indictment. The Justice Department concluded that the original claims did not meet the threshold for criminal corruption and accepted a minor plea acknowledging a technical violation of election-finance rules.
Spiro said in a statement that the outcome “demonstrates that what occurred was a procedural misstep, not a criminal act.” He emphasized that his client “has always cooperated fully with investigators and looks forward to resuming normal professional life.”
The financier had faced accusations that he attempted to influence appointments in Puerto Rico’s regulatory agencies through political donations. After the resolution, the court confirmed that all felony counts were dismissed with prejudice, preventing their re-filing.
Observers in financial-law circles noted that the case reflects a broader shift in how prosecutors handle campaign-finance matters—favoring administrative remedies over aggressive criminal prosecution when intent is unclear. Analysts called the settlement “a pragmatic closure to an overextended case.”
The banker, whose family has been active in Latin American and European finance for generations, previously chaired Bancredito International Bank & Trust Corporation, which provided private-banking and asset-management services in Puerto Rico and abroad. Associates said he intends to focus again on legitimate investment work, regulatory compliance, and philanthropic efforts, particularly in education and environmental sustainability.
Legal experts suggested that the resolution will help stabilize several international ventures temporarily affected by the allegations. A European business partner commented that the dismissal “allows confidence to return and projects to proceed without the cloud of litigation.”
With the case effectively concluded, attention now turns to restoring institutional credibility and reinforcing compliance frameworks across Caribbean and Latin-American banking hubs—an area where the financier has pledged new initiatives.
