Explainer: How Rolexes put Peru's presidency at risk

Rolex Rings

02/04/2024 15:30

LIMA, April 2 (Reuters) - Peru has had six presidents
since 2018 and current head of state Dina Boluarte in political
hot water and facing calls to step down amid questions about the
provenance of her collection of Rolex watches.
    Boluarte is under investigation for illicit enrichment for
possessing luxury timepieces watches without proving how she got
them. Dozens of police and prosecutors raided her home and
office over Easter weekend looking for evidence in the case.
    Boluarte, who took power in 2022 after her predecessor was
impeached for illegally trying to shutter congress, saw the
beginning of her term marked by protests and ensuing crackdown
that left dozens dead.
    Despite widespread calls for her resignation or to bring
forward elections, Boluarte survived but is now facing renewed
calls to step down over the scandal.
    In a televised address to the nation Boluarte called the
raid "abusive" and said she would serve her term until 2026.
Congress has already taken initial steps to impeach Boluarte.
     
    WHAT'S THE ROLEX SCANDAL
    In March, a popular political Youtube show "La Encerrona"
reviewed thousands of photos of Boluarte and found she wore a
number of Rolex watches worth between $14,000 and $25,000.
    On March 18, the Peru's prosecutor's office announced
"preliminary proceedings" against Boluarte for alleged "illicit
enrichment" and failure to declare ownership of the expensive
Rolex watches in documents.
     
    WHAT HAPPENED DURING THE RAID?
    Dozens of prosecutors and police arrived at Boluarte's house
near midnight on Good Friday to carry out a search warrant
    Prosecutors said they had requested the watches from
Boluarte but they had not been handed in and the raid produced
"elements of interest" for the investigation.
    Local media outlets published documents from the raid
showing at least one Rolex watch, a Datejust 36 model with a
purchase date of July 8, 2023. A similar model on Rolex's
website costs at least $14,800.
    Eight lower-priced watches from other brands were found in
the Government Palace, according to local media reports.
Boluarte's salary as president is about $4,200 with expenses and
housing paid for by the state.
     
    WHAT HAPPENS NEXT?
    Boluarte's defense had asked the prosecutor to postpone the
president's testimony, but are now requesting she give a
statement Friday April 5 due to the "political turbulence" the
case is causing.
    Mostly left-wing opposition legislators, presented a motion
in Congress on Monday to begin Boluarte's impeachment for
"permanent moral incapacity". Only 26 of 130 legislators are
needed to start the process, 52 votes are needed to debate the
impeachment in Congress and 87 are needed to impeach.
    Boluarte has already survived two attempts to start
impeachment proceedings but both failed to receive 52 votes to
proceed. Impeachment is unlikely since right-wing legislators
have a majority in congress and support Boluarte.
    Six of Boluarte's ministers, including the interior
minister, have resigned on Monday over the scandal.
    Gustavo Adrianzen, who took over as prime minister in March,
must be confirmed by Congress on Wednesday and if he fails the
vote of confidence, Boluarte's entire cabinet must resign.
    
    WHAT HAPPENED TO PERU'S OTHER PRESIDENTS?
    Peru's politics are highly polarized and the constitution
allows presidents to be impeached for "moral incapacity" a
subjective measure that's been used to impeach several former
leaders.
    Almost all high-ranking officials or former Peruvian
presidents have been investigated by the prosecution or have
been involved in corruption cases in the last three decades.
    After being elected in 2016, Pedro Pablo Kuczynski resigned
prior to a likely conviction after being succesfuly impeached in
2018 following a corruption scandal. His vice president, Martin
Vizcarra, then took over but was also impeached for "permanent
moral incapacity" due to corruption charges in 2020.
    After that Manuel Merino was president for just five days,
resigning after two protest deaths in Lima. Francisco Sagasti
then took power for a year until leftists outsider Pedro
Castillo was elected in 2021. 
    Castillo was impeached in December for trying to shutter
congress. Castillo is now jailed in the same prison as another
former president Alejandro Toledo. They shared the prison with
former President Alberto Fujimori who was released last December
after a pardon.

 (Report by Marco Aquino and Reuters Television; Editing by
Alexander Villegas and Alistair Bell)
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