Peruvian President Dina Boluarte is under investigation for alleged illicit enrichment and failures to declare assets, including hundreds of thousands of dollars in cash, luxury watches, and jewelry. The highly unpopular leader appeared before prosecutors to provide testimony, arriving at the building surrounded by armed police and facing throngs of journalists and protesters. The unfolding scandal, dubbed “Rolexgate” on social media, began after Boluarte was seen wearing expensive watches and jewelry that she did not declare to authorities, in violation of Peruvian law. The controversy will only further decrease Boluarte’s already low popularity, with 86% of Peruvians rejecting her leadership.
Boluarte has provided minimal details about the suspicious transactions and jewelry, claiming that the Rolex watch first featured in photos was the “fruit of my labor.” However, authorities estimate that her undeclared assets, including the watches and a Cartier bracelet, may be worth as much as $500,000. The investigation has been expanded to include more assets and bank transfers of unknown origin, totaling over $400,000 deposited into Boluarte’s account. The president, a former lawyer, had a modest income before assuming office, making her recent expensive acquisitions questionable.
The raid on Boluarte’s house marked the first time in Peru’s history that police forcibly entered a sitting president’s residence. Despite the controversy and public outrage, Boluarte is unlikely to face immediate consequences due to legal protections for sitting presidents in Peru. However, her alliance with congressional leaders who support her means that she is expected to remain in power until 2026. Analysts warn that Boluarte’s presidency may be enabling lawmakers to pass reforms that could undermine democracy and consolidate their power in the long term.
Peru has faced years of political instability, with frequent changes in leadership due to corruption and scandals. Boluarte’s troubles add to the country’s challenges, with the ongoing investigation casting a shadow over her presidency. While the president may not face immediate impeachment proceedings, the public backlash and legal scrutiny could undermine her authority and government’s effectiveness. The unfolding scandal highlights the need for transparency and accountability in Peru’s political system, as the public demands answers and consequences for those in power who abuse their positions.
Despite Boluarte’s unpopularity and the growing scandal surrounding her undeclared assets, she is likely to weather the storm in the short term. Congress has rejected attempts to remove her from office, and legal protections shield sitting presidents from criminal charges while in power. However, the ongoing investigation and public outcry could further erode Boluarte’s credibility and authority. As the controversy continues to unfold, Peru faces a pivotal moment in its democratic history, with the need for accountability and ethical leadership at the forefront of the national conversation.
