Between “Rolex” and banking corruption...stories of the fall of Latin American presidents

Military coups and tanks storming presidential palaces are no longer the preferred means of overthrowing rulers on the volatile Latin continent. Rather, it was replaced by the “constitutional guillotine” and the corridors of parliaments, which began toppling presidents one after another on charges ranging from financial corruption to “moral impotence.”

Latin America has a history studded with precedents of isolation. The process of “parliamentary impeachment” has transformed from an exceptional measure to protect the constitution, into a decisive political tool to end the ambitions of leaders and drive them to prisons or house arrest.

In a continent whose political fires do not subside, the presidential fall was harsh, and toppled resonant names that the ballot boxes transformed into the pinnacle of power, before investigations and parliamentary alliances threw them into the clouds of courts and arrest.

Historical figures documented in the “Presidential Instability Database” issued by the Institute of Latin American Studies at the University of Notre Dame, and published by the academic journal Americas Quarterly, reveal that the state of Ecuador officially leads the continent as the most expelled political environment for presidents, with 28 cases of forced departures, distributed among 17 military coups, 4 cases of parliamentary impeachment, and two cases of assassination, in addition to successive resignations under pressure and revolutions. Popularity.

Followed by Bolivia with 26 cases, the lion’s share of which were classical military coups with 15 cases, accompanied by 8 cases of forced resignations at gunpoint or in the street, while parliamentary impeachment was recorded only twice throughout its history.

In contrast, countries such as Peru, Paraguay, and Guatemala have heavy recent records of parliamentary and legal impeachment that have changed the face of power in recent decades.

Earthquake in Asuncion... Santiago Peña, victim of the banking collapse in Paraguay

The recently deposed President of Paraguay, Santiago Peña, is the latest to join the club of deposed presidents on the Latin continent. Peña, 47 years old, entered the political arena with a distinguished academic and economic background. He studied economics at the Catholic University in Asuncion, and obtained a master's degree in economic policy from the prestigious Columbia University in New York. Before ascending to power as a candidate for the right-wing conservative Colorado Party, he worked as an economist at the International Monetary Fund (IMF) in Washington, and served as Minister of Finance in his country.

The chapters of his political drama began in the first week of November 2026, following the sudden financial collapse of Ueno Bank, one of the largest banks in Paraguay, which managed more than $800 million in public funds. Peña was leveled with heavy accusations of “betrayal of trust” and abuse of influence, based on his previous ownership of shares in the holding group that owned the bank, and his appointment as a former executive officer in the bank to manage the central bank charged with supervising it, as well as allowing the legal limits of public pension fund deposits within the collapsed bank to be exceeded.

Despite his attempt to submit his resignation to save the situation, Parliament rejected it, and the House of Representatives voted unanimously (78-0) to dismiss him and send him to trial. Under the officially implemented isolation decision, Santiago Peña is currently under house arrest, awaiting the completion of judicial procedures, while his deputy, Pedro Aliana, has assumed the reins of the presidency to complete the period extending until 2028.

Dina Bolwart's fall in Peru...falling into the trap of “Rolex watches” and “moral impotence”

Before Peña's thunderous downfall in Paraguay, Peru was the scene of another political drama that toppled interim President Dina Bolwart. Bolwart, 64 years old, is a lawyer who graduated from the University of Saint Martin de Porres. She worked for many years as an official in the National Civil Status Registry before fate led her to become Vice President and then President of the country in December 2022, following the removal of her predecessor, Pedro Castillo, and she became the first woman to assume the presidency of Peru.

Bolwart's term ended abruptly on October 10, 2025, when the Peruvian Congress voted overwhelmingly (122 votes to 13) to remove her from office on charges of "permanent moral incapacity."

This isolation was driven by the collapse of her popularity to record levels (between 2 and 4 percent), and the escalation of the wave of violence and organized crime, in addition to her prosecution in famous corruption investigations known in the media as the “Rolexgate” case, which was linked to her possession of luxury watches and jewelry whose source was not revealed, in addition to accusations related to the suppression of popular protests.

Bolwart is currently subject to extensive judicial investigations by the Peruvian Public Prosecution on charges of graft and corruption, and she lives under a travel ban and close security monitoring to prevent her escape outside the country.

Jose Khairy in Peru... his short four-month sentence ends behind bars

Bolwart's succession was no political cakewalk; Her successor, Congress President Jose Khaire, followed the same path at record speed. Khairy, 40 years old, is a Peruvian politician and lawyer, specializing in administrative law and public policy. He assumed the interim presidency of the country as Speaker of Parliament, since there was no vice president in the authoritarian structure at the time.

Khairi's presidency lasted only 4 months. Congress rose up against him in February 2026 and removed him from office following a resounding corruption scandal. The accusations against him included holding secret, unannounced meetings with Chinese businessmen to pass suspicious contracts, in addition to accusations related to administrative and financial corruption and illegally employing women with huge salaries inside the presidential palace. Immediately after his dismissal, his immunity was lifted and he was arrested. He is currently in a remand prison in the capital, Lima, and is being tried on charges of receiving bribes, exploiting influence, and harming public funds.

Guatemala and the “telephone line” scandal...a general takes off his military uniform and falls into the trap of bribery

Guatemala is historically a volatile environment with 17 cases of forced departures, and the most significant name in its recent history is former President Otto Pérez Molina, who is currently 76 years old. Molina, a retired military general, studied at the Guatemalan Military Academy and obtained a master's degree in international relations, and led the country in civilian clothes after winning the elections.

In September 2015, Molina made history as the first Guatemalan president to be stripped of his immunity by parliament and removed from office following a massive customs corruption scandal known as “La Línea,” in which he was accused of leading a network that received bribes from importers in exchange for exempting them from customs duties and reducing taxes on them. Molina, who was immediately arrested after his resignation and removed under parliamentary and popular pressure, spent many years behind bars, and was sentenced in late 2022 to 16 years in prison on charges of fraud and forming evil associations. He is currently in a cartel military prison serving his aggravated sentence.

Pedro Castillo in Peru... the failed “self-coup” gamble that led to the dungeon

The impeachment scene of former Peruvian President Pedro Castillo remains one of the most dramatic scenes in the history of modern presidential prosecutions. Castillo, 57 years old, comes from simple rural origins and worked for many years as a primary school teacher and teachers’ union leader. He did not study political science in elite universities. Rather, he obtained a bachelor's degree in education from Vallejo University.

On December 7, 2022, Castillo led an ill-advised political gamble when he announced in a televised speech the dissolution of Congress, the imposition of a state of emergency, and the formation of an exception government, in what was described as an attempted “self-coup” to escape a third impeachment session that was scheduled against him on corruption charges. In response, Congress urgently met and voted by 101 votes to immediately impeach him on charges of “moral impotence” and attempting to violate the constitutional order.

While trying to seek refuge at the Mexican Embassy in Lima, he was arrested by the National Police. Castillo is currently in the high-security Barbadeo prison east of Lima, serving long prison sentences approved against him on charges of rebellion, conspiracy, and financial corruption.

Paraguay 2012...the “quick guillotine” that overthrew the “Bishop of the Poor” Fernando Lugo

Paraguay has an extensive history of 20 cases of forced exits of presidents, perhaps the most notable historically being the case of Fernando Lugo. Lugo, who is currently 75 years old, is a former Catholic cleric known as the “Bishop of the Poor.” He studied theology at the Catholic University of Nuestra Señora, and ascended to power in 2008 to end 61 years of one-party rule (Colorado), based on overwhelming popularity among farmers and the working classes.

In June 2012, Legault faced what was described as a “snap parliamentary guillotine”; Congress accused him of “poor performance of duties” after bloody armed clashes between police and peasants who seized rural lands, resulting in the deaths of 17 people. Within just 48 hours, and without giving him enough time to prepare his defence, the Senate voted overwhelmingly (39 votes to 4) to impeach him and limit his term.

Several Latin countries described the measure at the time as a “soft parliamentary coup.” Lugo lived with the impeachment and remained active in politics. He was later elected as a member and president of the Senate, and is currently settling in Paraguay after his difficult recovery from a severe stroke that struck him years ago, moving away from the spotlight of power that the parliamentary guillotine took away from him.

Lucio Gutierrez in Ecuador... escaping by helicopter from the roof of the presidential palace

Lucio Gutierrez embodies the height of political turmoil in Ecuador (the record holder with 28 exits). Gutierrez, who is currently 69 years old, is a politician and former military colonel. He studied civil engineering and military sciences at the Higher Military College in Quito, and rose to national prominence after leading a coup in 2000 that overthrew former President Jamil Moawad, before he himself was elected as the legitimate president of the country and began his term in January 2003.

Gutierrez's joy of power was short-lived; In April 2005, a massive popular uprising broke out in the capital, Quito, known as “Los Forajidos,” in protest against his decisions to amend the composition of the Supreme Court and dismiss its judges in order to acquit his political allies of corruption charges.

Under pressure from the street and the demonstrations surrounding the palace, Parliament met and voted to remove him on charges of “abandoning the presidency” and violating the constitution. In a dramatic scene broadcast to the world on television, Gutierrez fled via helicopter that landed on the roof of the presidential palace, and took temporary refuge in Brazil. Gutierrez later returned to his country after the criminal charges were dropped against him, and entered the political arena again, where he currently holds the position of a member of the Ecuadorian Parliament, witnessing the guillotine that befell his term.

Dilma Rousseff in Brazil...the most famous victim of budget maneuvers

The presidential impeachment file cannot be closed without the most prominent Brazilian station, Dilma Rousseff. Rousseff, 79 years old, is an economist who graduated from the Federal University of Rio Grande do Sul. She spent her youth fighting against the military dictatorship and was imprisoned in the 1970s, before becoming Minister of Energy, then Chief of the Presidential Office during the reign of Lula da Silva, to be elected as the first woman to lead Brazil.

On August 31, 2016, the Brazilian Senate closed the curtain on her ruling by voting to formally dismiss her by 61 votes to 20.

The main charge against her was “manipulating public accounts” and violating budget laws, by concealing the growing government budget deficit by using loans from state-owned banks to finance social programs during her re-election campaign, a practice known as “budget maneuvers.”

Despite her impeachment, Rousseff was not convicted of a criminal offense that deprived her of her political rights. She currently works as president of the New Development Bank of the BRICS group, based in Shanghai, and moves freely between China and Brazil, defending her political legacy.