Rolex scandal rocks Peru’s president

The focus on the wristwear of Peruvian President Dina Boluarte has escalated into a matter of state. Surprisingly, her watch collection has caused more reputational harm (a 10% impact) than 50 protest-related fatalities, critical human rights reports, diplomatic tensions with neighboring countries, and the controversial release from prison of autocrat Alberto Fujimori.

On March 14, the La Encerrona podcast revealed that Boluarte wore 14 high-end watches at various formal events. Among them is a steel Rolex Datejust 36 with 18-karat rose gold and diamond inlays, valued at around $19,000. None of these luxury items were declared in the assets disclosure required of public officials, particularly the president, even if they were received as gifts.

“Everything I own is due to my hard work. It’s from way back when, and I hardly ever use it,” said Boluarte a few days later, claiming that she paid for all the watches with her own money. On April 5, after testifying for five hours in a police investigation for alleged illicit enrichment, Boluarte changed her story. She claimed the watches were on loan from her friend, Ayacucho Governor Wilfredo Oscorima. “I’ll be honest, borrowing them was a mistake. I accepted them because I wanted to represent my country well, but I’ve already given them back. They weren’t mine, so I didn’t have to declare them.”

There are many unanswered questions. Boluarte, who became president after Pedro Castillo was impeached and removed from office, wore four different watches during her time as Castillo’s Minister of Development. Since becoming president, she has worn eleven new watches. On the day of the La Encerrona podcast, she was seen wearing a 15th watch (made by Bebe) at an event in Lima with a group of women in business.

Boluarte earned a monthly salary of 30,000 soles ($8,100) as a minister. As president, her monthly pay was almost halved, an austerity measure implemented by former president Alan García during his second term (2006-2011). People close to Boluarte say she never wore luxury watches when she was a civil registry official earning 4,500 soles ($1,220) a month. Prosecutors are now looking into these claims.

The first new watch spotted on Boluarte’s wrist is the most modest in the collection: a Michael Kors Gold-Tone that costs $130. She was wearing it during her swearing-in as a minister in the Castillo administration in July 2021. Boluarte, who later became Castillo’s vice president, was a top leader of the left-wing Perú Libre political party before she resigned.

Ten months later, in May 2022, Boluarte was seen wearing a Fossil watch during a food distribution event. A few months later, she sported another Fossil watch and concluded her ministerial tenure wearing a Quartz watch at a budget review on September 13.

Since assuming the presidency on December 7, 2022, many more watches have graced Boluarte’s wrists. On December 16, during the protests in which 10 Ayacucho residents died, Boluarte wore a Michael Kors watch for a graduation ceremony at the Chorrillos Military School. Five days later, amid calls for her resignation and an early election, she wore a Jacques Manoir watch to congratulate a new class of police officers.

The seventh wristwatch (brand unknown) first appeared on January 18, 2023, during a mass commemorating the founding of Lima. Street protests raged as the president stood next to ultra-conservative Lima Mayor Rafael López Aliaga. Boluarte was spotted wearing an Invicta watch on May 9 at an event for Europe Day at the Lima Art Museum. “Peru and the European Union are strongly advocates for peace,” she said at that event. Less than a month later, she was wearing the Rolex apple of discord again.

Just seven days later, Boluarte welcomed former Ecuadorian President Guillermo Lasso to Peru wearing a Bulova watch that costs nearly $700. Boluarte was seeking allies and strengthening ties with regional leaders after recalling Peru’s ambassadors from Mexico, Colombia and Honduras. In late October, she sported a smartwatch at an event with European Commission Vice-President Margaritis Schinas and the European Union’s ambassador to Peru, Gaspar Frontini. Four days later, she was photographed with yet another watch — a Rolex Datejust with diamond bezel — as she greeted Barbados Prime Minister Mia Mottley. Boluarte donned a second smartwatch during a campaign to combat sexual violence against girls in November.

While not confirmed, Dina Boluarte was seen wearing what looked like a third Rolex on February 16, 2024, during a school inauguration in Piura. The 15th watch — the Bebe — appeared at a meeting for women in business on the day the La Encerrona podcast aired.

Late on Good Friday, prosecutors and police raided Dina Boluarte’s residence. They didn’t find the Rolexes, but they seized two other luxury watches. The watches are the most conspicuous evidence of the notable, recent rise in Boluarte’s wealth. Prosecutors are investigating a $56,000 Cartier bracelet and nearly $300,000 in bank deposits while she served as president of the Club Departamental Apurímac cultural organization. The embattled president of Peru is currently navigating turbulent waters.

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