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Bloomberg.com

Peru Leader Says Rolexes Were a ‘Loan,’ Bracelet Wasn’t Cartier

By Marcelo Rochabrun, Fri, April 5, 2024

(Bloomberg) — Peru’s embattled President Dina Boluarte has had shifting versions about the origins of a set of luxury watches and other jewelry, which further dimmed the reputation of one of the world’s most unpopular leaders.......at 8% approval

First, Boluarte said at least one Rolex was an old jewel. One of her attorneys said the source could be a “fan in love.” A cabinet member said the jewels came from her savings.

On Friday afternoon, after testifying before prosecutors for five hours as part of an investigation into illegal enrichment, Boluarte said all but one luxury watch were a “loan” from a friend, naming a controversial Peruvian state governor who in a previous term in the role was sentenced for corruption.

“It was a mistake to accept these watches as loans,” she said in a nationwide address, adding she had given them back but had initially accepted them, “maybe with the will to properly represent my country.” Boluarte said the fact that they were a loan means she was not under obligation to disclose her ownership of the expensive watches, which she said she had returned.

The clarifications come a day after Congress dismissed two impeachment motions against Boluarte over the so-called Rolex scandal. While Boluarte has found crucial support among lawmakers, she remains one of the most unpopular leaders in the planet, with an approval rating of 9%. Congress holds an identical approval rating among Peruvians.

Prosecutors had also singled out a bracelet as being made by Cartier and worth some $50,000. But Boluarte said it was just cheap imitation jewelry, saying she owns items made by Unique, a Peruvian multilevel marketing firm that caters to women.

Boluarte said she had failed to give explanations on the matter for several weeks on advice of her lawyer, who said she should first answer to prosecutors and only then to the public.