Paraguay Senate votes to remove President Santiago Peña from office following Ueno bank collapse
Lawmakers said he steered hundreds of millions of dollars in public funds into the lender, which froze nearly 3 million customers' savings.
- 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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351 Articles
Paraguay's right-wing president was placed in detention at home a few minutes after he was dismissed from Congress, on the background of a serious crisis that left more than half of the country's population without access to bank accounts, reports The Guardian. All 44 senators present voted for dismissal...
AFTER being impeached due to a banking scandal, Santiago Pena ended up under house arrest, and the new president of Paraguay became Pedro Alliana.
Peña is accused of conflicts of interest, cover-up and the misuse of pension funds. He was put under house arrest.
Die Presse
Tiroler Tageszeitung OnlineA banking scandal is causing a serious political crisis in Paraguay. Santiago Peña, a close confidant of Donald Trump, was unanimously deposed by the Senate.
The Paraguayan Police reported this Friday that former President Santiago Peña "is already officially detained" at his home
Ousted Paraguay President Placed Under House Arrest .
Former Paraguayan President Santiago Peña has been placed under house arrest following his removal from office over the collapse of digital bank Oeño and allegations of financial misconduct. The Associated Press reported on Friday, November 6, that Paraguay’s prosecutors had ordered Peña’s arrest as part of an investigation into the bank’s financial crisis. Police placed […]
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