Paraguay President Peña under investigation, faces removal from office over bank collapse
Prosecutors opened three investigations and lawmakers moved to impeach him after Ueno’s seizure froze nearly 3 million customer accounts.
- On Friday, the Paraguayan Senate rejected President Santiago Peña's resignation offer and moved forward with impeachment proceedings, leaving him provisionally in office pending trial.
- Regulators seized Ueno Bank on Tuesday after discovering the solvency ratio had fallen below half the legal minimum, freezing deposits for nearly 3 million customers.
- Prosecutors charged 27 bank officials with breach of trust and fraud, while thousands of protesters gathered in Asunción demanding "Give us back our money."
- Congress passed emergency legislation on Wednesday establishing a state guarantee fund, which began repaying small depositors up to $1,600 on Thursday.
- Vice President Pedro Alliana announced Saturday that the government would ensure pension payments and annual bonuses continue, coordinating with the Social Security Institute to stabilize the financial system.
260 Articles
260 Articles
Santiago Peña was accused of obtaining loans of 450 thousand euros to build a residence. The vice president took office while Peña remains in detention.
Santiago Peña was arrested after the Ueno collapse, which froze the accounts of almost 3 million customers
The Public Prosecutor ' s Office and the National Police conducted a search of Santiago Peña ' s luxurious residence in the Ciervo Qua region of San Bernardino, estimated at over $1 million.
In Paraguay, the crisis that began with the collapse of the digital bank Ueno led to the impeachment and arrest of President Santiago Peña. Peña, whose residence was searched on charges of corruption and abuse of power, was replaced by Vice President Pedro Alliana.
Paraguayan police have raided the home of former President Santiago Peña as part of an investigation into the banking crisis that led to his removal from office and criminal charges.
Deposed by the Senate for having helped to concentrate significant public funds in Ueno Bank, which is now insolvent, Santiago Peña has been in pre-trial detention since Saturday.His home has been searchedThe Paraguayan justice system raided the home of former President Santiago Peña, near the capital, on Sunday as part of the investigation into the collapse of Ueno Bank for which he was deposed, the prosecution said.The banking crisis, which qu…
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