Bolsonaro Allegedly Profited from Sale of Luxury Saudi Watches, Brazilian Federal Police Claim

On August 12, 2023, the Brazilian Federal Police indicated that Jair Bolsonaro, former President of Brazil, might have profited from the sale of two luxury watches gifted to him by Saudi Arabia during his term, estimated at around $70,000. This accusation adds to the scrutiny surrounding the controversial far-right leader.

In an archive photo from June 30, 2023, Bolsonaro is seen addressing the press in Belo Horizonte, following a judicial decision rendering him ineligible to run for public office until 2030.

Throughout that day, the police carried out search and seizure operations in homes and offices of individuals linked to the case, including a four-star army general’s residence. Bolsonaro fervently denied any misconduct regarding the gifts.

Internal sources from the Federal Police, speaking on the condition of anonymity, disclosed that they are in the process of requesting access to Bolsonaro’s banking and financial transactions and have sought cooperation from the FBI.

In a statement, Bolsonaro’s defense expressed willingness to grant the Brazilian judiciary access to the former president’s banking records. “Bolsonaro has never misappropriated or misused public assets,” the statement emphasized.

The implications of this case enlarge the scope of legal challenges Bolsonaro faces, relating to his presidential tenure. The former leader is also under legal scrutiny for events that took place post-presidency and for his behavior during the presidential election where he was defeated.

According to Brazilian law, travelers arriving from abroad are required to declare goods valued over $1,000. Exceeding amounts are taxed at 50% of the total value. While the watches, if deemed diplomatic gifts, would be exempt from taxation, they wouldn’t be Bolsonaro’s personal property.

The Federal Police suggest that “the amount derived from these sales was converted into cash and later integrated into Bolsonaro’s personal assets through intermediaries, without proper banking registration,” as stated by the Minister of the Brazilian Supreme Court, Alexandre de Moraes.

The investigation points out that in June 2022, Lieutenant Colonel Mauro Cid allegedly sold a Rolex and a Patek Philippe in the US, both gifts from the Saudi government in 2019, totaling $68,000. The amount was reportedly deposited into Cid’s father’s account immediately after the transaction.

Amidst the investigation, in March 2023, following the Federal Police’s request for Bolsonaro to return such jewelry, his lawyer, Frederick Wassef, acquired the Rolex in Miami, submitting it to Brazilian authorities in April.

Both Wassef and Cid’s father were implicated in the Federal Police operation conducted on Friday, along with a close aide to Bolsonaro responsible for the jewelry’s return.

Apart from this episode, Bolsonaro faces other legal hurdles. This year, after raising concerns about the integrity of the electronic voting system, he was deemed ineligible until 2030. Other investigations, including one on the falsification of COVID-19 vaccination cards, also loom over him and his inner circle.