Explainer
How did a digital bank's collapse end with Paraguay's president in jail?
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Banks opened branches in Asunción so Ueno victims could collect. Prosecutors searched a house in San Bernardino, attributed to Santiago Peña and financed, they say, by two Ueno loans.
Asunción and San Bernardino
Prosecutors say more than 800 million dollars of public and pension money was placed in Ueno. He faces charges of breach of trust as instigator and administration for his own benefit as author.
$800M
The new president, Pedro Alliana, said: I have ordered the justice minister to enforce the law strictly. No defendant will have privileges.
“I have ordered the justice minister to enforce the law strictly. No defendant will have privileges.”
Ueno had 2940000 customers, and many could not use their cards for fuel, medicine or food. The Senate removed Peña unanimously, and he is now held at the Presidential Escort Regiment, a military unit.
2,940,000
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The story
Paraguay's Senate removes President Peña over Ueno Bank collapse; he is in pretrial detentionRead the article
Based on reports by
- The New York TimesHow a Bank Implosion in Paraguay Ensnared a President
- La Libre.beBanking scandal and fall of the president of Paraguay: the embezzled money gradually returned
- La Repubblica.itParaguay, images of the secret vault in the residence of former president Peña
- H KαθημερινήBanking crisis in Paraguay: Search at the home of the removed president Peña
- La RazónThe political and banking crisis in Paraguay leaves Taiwan without its greatest ally against China
- Notícias ao MinutoParaguay police search home of former president linked to failed bank