Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Peru authorities investigate president as brother arrested

Published 11/05/2024, 12:11 pm
Updated 12/05/2024, 05:22 am
© Reuters. FILE PHOTO: Peru's President Dina Boluarte shows a piece of jewellery during a press conference at the government palace after her statement to the prosecutor's office hearing on an investigation for the possession of expensive jewellery, including Rolex
HG
-

By Marco Aquino

LIMA (Reuters) -Peruvian authorities said on Friday that they had launched an investigation into President Dina Boluarte for disbanding a special police force that had been investigating her brother, who was detained earlier in the day.

Nicanor Boluarte and the president's lawyer were arrested as part of a probe into alleged influence peddling, ramping up pressure on the Andean country's leader, who is already being investigated over how she got pricey Rolex watches and jewelry.

Peru's attorney general's office said it was now looking into a potential abuse of authority by President Boluarte and Interior Minister Walter Ortiz for dissolving the police unit.

Earlier in the day, Attorney General Juan Carlos Villena said in an a government act that the authority was weighing its options and demanded the police unit be reinstated "immediately."

Authorities searched more than 20 properties on Friday, including the Lima home of Nicanor Boluarte, who is accused of leading a criminal organization that influences the appointment of people in high positions on power.

Across town, a team of prosecutors and police raided the home of Boluarte's lawyer Mateo Castaneda, who is advising her in the case of alleged illicit enrichment involving the watches and jewelry. Boluarte has denied the accusations.

The president's brother, along with other unnamed suspects, will remain in preliminary detention for 10 days, Peru's justice department said.

A spokesman for President Boluarte told a press conference on Friday evening that the police unit had been dissolved for failure to comply with administrative norms and that the government respected the laws and judicial autonomy.

© Reuters. May 10, 2024. REUTERS/Gerardo Marin

Nicanor Boluarte, as he was transferred by the police to a judicial unit, denied the allegations to reporters. "I am innocent... I deny absolutely everything," he said.

Peru, the world's number two copper exporter and once one of South America's most attractive investment locations, has been hit by political unrest in recent years, with six presidents in as many years and regular corruption probes and impeachments.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.