Paraguay investigates former president after Ueno Bank collapse
Crime · First reported 9 Nov, 02:13 · Updated 02:22
Police searched former President Santiago Pena’s home as prosecutors investigate allegations linking him to Ueno Bank’s collapse. The bank failure froze customer funds and prompted protests; Vice President Pedro Alliana has taken office and says reimbursements are under way.
- Police searched Pena’s home after he was removed from office; prosecutors have charged him with breach of trust and administration for personal gain.
- Prosecutors allege that Pena steered public deposits to Ueno while holding shares in its parent company; he denies wrongdoing.
- Ueno’s collapse froze customer funds and was followed by protests. Alliana says 1.2 million customers have been refunded, with about $158 million paid so far.
Summary written by Lux AI from 2 articles
Key facts
- Search
- Police searched Pena’s home outside Asuncion.
- Charges
- Breach of trust and administration for personal gain.
- Public funds at Ueno
- The bank held approximately $850 million in public funds by June.
- Reported repayments
- Alliana said about $158 million had been paid to 1.2 million customers.
- Successor
- Vice President Pedro Alliana was sworn in to replace Pena.
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Left 2 · Centre 0 · Right 0 of 2 rated sources
Background
- An earlier Lux summary described Ueno as having attracted account holders amounting to roughly half the country’s population before its collapse. [603d6fdc-0465-4a90-b97f-d89764351bb2]
- That earlier summary also linked the bank’s failure to a political crisis and allegations of insider lending. [603d6fdc-0465-4a90-b97f-d89764351bb2]
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- Government 50% (1)
- Independent 50% (1)
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