Paraguay Senate votes to remove President Santiago Peña from office following Ueno bank collapse
Prosecutors ordered Peña's arrest on suspicion of breach of trust shortly after his removal, as nearly 3 million depositors face frozen accounts.
- On Friday, Paraguay's Senate unanimously voted to remove President Santiago Peña for misconduct over Ueno Bank's collapse. Vice President Pedro Alliana was immediately sworn in to lead the country.
- Regulators seized Ueno Bank on Tuesday, freezing nearly 3 million customer accounts and triggering nationwide protests. Lawmakers accused Peña of steering $355 million in state pension funds to the lender while regulators overlooked risky insider lending.
- Prosecutors charged 27 people, including Ueno's controlling shareholder Miguel Vázquez, with breach of trust and placed Peña under house arrest on Friday. Former central bank chief Carlos Carvallo also faced arrest orders.
- President Alliana inherited a government under pressure to return depositors' money and punish those responsible. Paraguay's largest teachers' union, representing more than 40,000 members, plans an indefinite national strike on Monday to demand pension fund protection.
- Peña lost his political base after mentor Horacio Cartes publicly called for his ouster, marking a stunning reversal of fortunes. Unlike other former presidents, Peña will not receive a lifetime Senate seat or parliamentary immunity, leaving him vulnerable to prosecution.
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The vice-president of Paraguay, Pedro Alliana, was invested Friday, November 6 new leader of the country. An unprecedented banking crash caused demonstrations and cost his place to former president Santiago Peña. Deposed, he was detained at home. (International).
The recently dismissed president of Paraguay, Santiago Peña, has been arrested on Friday by the Police and placed under house arrest following the arrest warrant issued by the Prosecutor's Office against him, in the midst of the political trial opened by the financial scandal of Ueno Bank that led the Senate to remove him on Thursday by ... Continue reading "The former Paraguayan president Santiago Peña, in house arrest after his arrest by the P…
The Conservative who has been president since 2023 is under house arrest and is due to appear this Saturday, November 7 in court to explain a banking scandal that has plunged the country into a major crisis.
Pedro Alliana took the oath of president of Paraguay on Friday, while his predecessor, Santiago Pena, was arrested at home, following the financial scandal that led to his resignation.
Paraguay’s president impeached over bank collapse that locked millions out of their savings
ASUNCION (Paraguay), Nov 7 — Pedro Alliana became president of Paraguay on Friday following the impeachment of his predecessor over a massive banking crisis that locked almost...
The former president of Paraguay, Santiago Peña, was arrested tonight at his residence in Asunción, a few hours after the Senate impeached him in a political trial for “misconduct.” The Public Prosecutor's Office is investigating whether Peña committed the crimes of breach of trust, administration for personal gain, and influence peddling in relation to the collapse of Ueno Bank, a conglomerate in which he held shares until March 2025 and where …
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