Explainer
How did a bank collapse end with Paraguay's ex-president in pretrial custody?
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The central bank took over Ueno Bank on Tuesday. Protesters gathered in Asunción, and the Senate removed President Santiago Peña on Friday, then a judge ordered him into pretrial custody.
Asunción
The freeze left 2.94 million customers unable to reach their money, and protests followed.
2.94M
Prosecutors allege Peña, who held shares in the bank's holding company, pushed state bodies to put public money into Ueno, which held 850 million dollars in public and pension funds.
$850M
Prosecutors say Ueno granted two loans in May 2024 to build his house in San Bernardino. On Sunday, 8 November they searched it and found a hidden vault behind a false wall.
- May 2024Two Ueno loans fund the house
- 8 November 2026Prosecutors search the house
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Paraguay's ousted president Peña held in pretrial custody over Ueno Bank collapseRead the article
Based on reports by
- Deutsche WelleParaguay's Prosecutor's Office searches summer house of former president Peña
- HotNews.roParaguay, the credit miracle: the collapsed bank that dragged a president down with it
- ANSA.itParaguay, Alliana implements a hard line and thanks the United States
- europa pressParaguay's Prosecutor's Office raids a property of former president Peña in...
- Berliner ZeitungUeno Bank: Investigators estimate damage at 810 million
- stern.deBanking scandal in Paraguay: Ousted president Peña indicted and in pretrial detention