Paraguay's Attorney General Opens Three Criminal Investigations Into Peña; Six Bank Executives Jailed Pending Trial as Senate Impeachment Trial Begins
ASUNCIÓN, Paraguay — Paraguay's Attorney General Emiliano Rolón Fernández ordered three criminal investigations into the collapse of Ueno Bank on Thursday, November 5, including allegations involving resigned President Santiago Peña and other current and former government officials. The investigations will examine regulators' oversight of the bank, their handling of its failure, and the placement of public funds in the lender. Peña announced his resignation earlier Thursday, the lower house then voted 78-0 to impeach him and sent the case to the Senate, and Vice President Pedro Alliana has assumed the presidency, serving through August 2028. On the same day, a judge ordered six Ueno executives jailed pending trial, including founder Miguel Vázquez and bank President Juan Manuel Gustale, and placed two others under house arrest. Prosecutors have charged 27 bank officials and business associates with breach of trust and attempted fraud. The Senate began its impeachment trial on Thursday night, with proceedings expected to continue on Friday. The crisis stems from the collapse of Ueno Bank. Paraguay's central bank found the lender's solvency ratio had fallen to less than half the legal minimum, seized the bank on November 3, and said it would transfer customer accounts and recoverable assets to other banks. Ueno has about 3 million customers, roughly 60 percent of Paraguay's adult population, and manages $800 million to $850 million in public money. Peña once held a large stake in the bank's parent company and says he sold it in 2025; the impeachment motion also questioned his appointment of Carlos Carvallo, formerly chairman of Ueno's predecessor Financiera Ueno, as central bank governor. Carvallo resigned on November 3.
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Source: Attorney General's Office of Paraguay
Published by GSM · USA (original Chinese edition)
Photo: 图：巴拉圭总统府洛佩斯宫，位于亚松森。Wikimedia Commons。 / Photo: The Palacio de los Lopez, Paraguay's presidential palace, in Asuncion. Wikimedia Commons.
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