Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Alan García, Peru's former president. Photo: Luis Robayo/AFP/Getty Images

Former Peruvian President Alan García killed himself on Wednesday, reportedly as authorities closed in to arrest him for links to the corruption scandal involving Brazilian construction firm Odebrecht, known as Operation Car Wash, or Lava Jato.

By the numbers: Peru's last 5 former presidents have all been charged with crimes. Three have been sent to jail, 1 is currently on house arrest and the other is an international fugitive.

The big picture: The last president not sought by authorities for graft was Fernando Belaúnde Terry, who left office in 1985 and died in 2002.

  • Peru's most recent ex-president, Pedro Pablo Kuczynski, was removed from office and eventually sentenced to 10 days in jail over charges a consulting firm he co-owned accepted nearly $1 million in payments from Odebrecht.
  • Former President Ollanta Humala is currently under house arrest facing allegations he took $3 million in bribes, largely from Odebrecht, during his term from 2011 to 2016.
  • García served 2 terms as president, most recently prior to Humala, and shot himself in the head as authorities arrived to take him to jail.
  • Alejandro Toledo has reportedly fled to the United States to avoid trial on corruption charges for taking bribes from Odebrecht.
  • Alberto Fujimori, who oversaw a 10-year dictatorship in Peru from 1990 to 2000, was sentenced in 2009 to 25 years in prison for crimes against humanity, including killing more than 2 dozen people by military death squad.
    • Fujimori was freed by Kuczynski in a controversial deal with Fujimori's daughter Keiko, who at the time was leader of the congressional opposition party. But last year he was sent back to prison. Keiko was arrested for taking bribes from Odebrecht in October and sentenced to 36 months pretrial detention.

The state of play: Despite the political chaos, Peru's stock market delivered world-beating returns from the start of 2016 to the end of 2017. An ETF tracking MSCI's Peruvian index (EPU) gained 114% during that time, far outpacing the S&P 500's 43% rise and almost doubling MSCI's broader gauge of emerging market equities, which rose 66%, according to data from Yahoo Finance.

  • It has since underperformed both indexes.

Go deeper: After Peru's president, regional anti-corruption wave finds next targets

Go deeper

Caitlin Owens, author of Vitals
2 hours ago - Health

Pfizer CEO feels "liberated" after taking COVID vaccine

Pfizer CEO Albert Bourla. Photo: "Axios on HBO"

Pfizer CEO Albert Bourla tells "Axios on HBO" that he recently received his first of two doses of the company's coronavirus vaccine.

Why it matters: Bourla told CNBC in December that company polling found that one of the most effective ways to increase confidence in the vaccine was to have the CEO take it.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Ripple CEO: SEC lawsuit is "bad for crypto" in the U.S.

Ripple CEO Brad Garlinghouse tells "Axios on HBO" that if his company loses a lawsuit brought by U.S. regulators, it would put the country at a competitive disadvantage when it comes to cryptocurrencies.

Between the lines: The SEC in December sued Ripple, and Garlinghouse personally, for allegedly selling over $1.3 billion in unregistered securities. Ripple's response is that its cryptocurrency, called XRP, didn't require registration because it's an asset rather than a security.

Caitlin Owens, author of Vitals
2 hours ago - Health

Pfizer CEO: "It will be terrible" if COVID-19 vaccine prices limit access

Pfizer CEO Albert Bourla told "Axios on HBO" that it "will be terrible for society" if the price of coronavirus vaccines ever prohibits some people from taking them.

Why it matters: Widespread uptake of the vaccine — which might require annual booster shots — will reduce the risk of the virus continuing to spread and mutate, but it's unclear who will pay for future shots or how much they'll cost.