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Rolexgate: Peruvian President Vows to Stay Amid House Raid Controversy

Peruvian President Dina Boluarte stood firm in her position, declaring she will not resign despite a recent raid on her residence by authorities investigating allegations of potential illicit enrichment. The raid, conducted by approximately 20 officials from the public prosecutor’s office and 20 police, targeted Boluarte’s home on Friday night, followed by a search of the presidential palace the next morning.

Addressing the media at a press conference, Boluarte asserted her innocence, stating, “I took office with clean hands and thus I will retire from the presidency in 2026.” She criticized the raids as “disproportionate” and “abusive.”

The incident unfolded in Lima’s Surquillo district, where Boluarte resides just a few kilometers away from her official workplace at the presidential palace. The presidency, via social media platform X, assured that full cooperation was extended during the raid, describing the procedure as “normal” and without any untoward incidents.

In an unprecedented event in Peru’s history, law enforcement authorities forcibly entered the residence of a sitting president. Utilizing a battering ram, agents breached the premises as part of an investigation into a corruption scandal known as “Rolexgate,” which revolves around Boluarte’s collection of luxury watches.

Criticism against the raids emerged from within the government itself. Peruvian Prime Minister Gustavo Adrianzen condemned the actions, labeling them as “disproportionate” and “unconstitutional.” He expressed concerns over the impact of the controversy on the country’s investments and overall stability.

The investigation into Boluarte was triggered by a media report by internet program La-Encerrona, which alleged the possession of several luxury Rolex watches by the president. This prompted prosecutors to initiate preliminary inquiries to ascertain whether there were grounds for a formal investigation.

Boluarte, who assumed office in December 2022, admitted to owning Rolex watches but insisted they were purchased using earnings accumulated since her youth. Last Wednesday, prosecutors attempted to inspect the watches at Boluarte’s office, but the appointment was postponed due to scheduling conflicts, according to her legal representatives.


Information for this briefing was found via Reuters and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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