ABC News – Collapse of Ueno Bank in Paraguay
Prosecutors announced that Paraguayan President Santiago Peña is under investigation after the collapse of Ueno, one of the country’s major banks. Peña announced his resignation as president just minutes before the country’s lower house unanimously voted for impeachment earlier today.
The Ueno bank, which managed about $850 million in public funds, has been accused of excessive transfers of funds to a shareholder linked to Peña and violated debt requirements, triggering millions of customers to be locked out of their bank accounts.
President of Paraguay Reigns from Corruption and Fraud
Santiago Peña was the 52nd President of Paraguay until he resigned on November 5, 2026, following the collapse of Ueno Bank. Vice President Pedro Alliana has now assumed the presidency.
Peña, a 47-year-old economist and member of the conservative Colorado Party, was elected in 2023 and inaugurated on August 15, 2023. His resignation occurred after the central bank seized Ueno Bank, which had served approximately 3 million customers (60% of the adult population), locked out their savings and $850 million in public funds. Lawmakers voted unanimously to impeach him minutes after his resignation announcement, citing conflicts of interest due to his former stake in the bank’s parent company, Grupo Vásquez.
AP News – Paraguay seizes major digital bank tied to president, leaving millions of customers in limbo
