Former Brazilian President Jair Bolsonaro is facing allegations that he received cash from the sale of luxury watches gifted to him by Saudi Arabia during his time in office, according to Brazil’s federal police.

This accusation has further complicated matters for the already embattled far-right leader.

In response to the allegations, authorities conducted raids on the homes and offices of individuals involved in the case, including a four-star army general.

Bolsonaro has vehemently denied any wrongdoing in connection with the gifts.

The Federal Police are seeking authorization to access Bolsonaro’s personal banking and financial information, and they have even sought assistance from the FBI.

Bolsonaro’s legal team released a statement asserting his willingness to grant Brazil’s judiciary access to his banking records and asserting his innocence in the matter, stating that he has never embezzled public assets.

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This case adds to the legal challenges facing Bolsonaro, who is also under investigation for his involvement in a violent incident orchestrated by his supporters after he left office, as well as actions during his unsuccessful presidential election campaign last year.

The situation revolves around Brazil’s requirement for citizens arriving by plane from abroad to declare goods exceeding $1,000 in value and pay a corresponding tax.

While the jewelry would have been tax-exempt if it were a gift from Saudi Arabia to Brazil, it would not have been Bolsonaro’s to retain.

Federal Police claim that proceeds from the sale of the watches were converted into cash through intermediaries, bypassing the formal banking system and becoming part of the former president’s personal assets.