Brazilian police claim a crime ring allegedly linked to Bolsonaro sold official luxury gifts valued at $1.2 million.

Federal police investigators have alleged that a criminal group, purportedly involving Brazil’s former president Jair Bolsonaro, attempted to illegally divert and sell luxury gifts from foreign leaders valued at over $1.2 million.

These allegations surfaced on Monday, just three days after Bolsonaro was formally accused by police of embezzlement, money laundering, and criminal association, potentially leading to a 25-year prison sentence if convicted. The Brazilian media has labeled the scandal “O Caso das Joias” or “Jewellery-gate.”

On Monday, Supreme Court Judge Alexandre de Moraes approved the release of the 476-page federal police report detailing the alleged criminal group’s activities. The investigation, revealed after Bolsonaro’s 2022 election defeat to Luiz Inácio Lula da Silva, claims the group aimed to embezzle high-value gifts received by Bolsonaro and his delegations during international trips. These items were allegedly sold overseas, with proceeds converted to cash and added to Bolsonaro’s personal wealth through intermediaries, avoiding the formal banking system to conceal the funds’ origins.

The report includes photographs of extravagant gifts supposedly misappropriated, such as a $20,000 Chopard rollerball pen, earrings worth over $126,000, and a special edition Rolex watch valued at nearly $74,000.

Investigators also suggest that the proceeds from these sales might have funded Bolsonaro’s activities in the US after he left office on December 30, 2022. Bolsonaro, known for his alignment with Donald Trump, has yet to address these new allegations but has consistently denied any wrongdoing during his presidency.

During a recent right-wing conference in southern Brazil, Bolsonaro stated he was willing to undergo a live, two-hour interrogation by the press. However, he has not fully responded to the latest claims or other accusations, including suspicions of inciting the January 2023 Brasília uprising. Javier Milei, Argentina’s right-wing leader, defended Bolsonaro at the conference, calling him a victim of “judicial persecution.”

Brazilian investigators believe they have strong evidence that Bolsonaro was aware of and benefited from the Jewellery-gate scheme.