Paraguay's ex-president Peña charged, detained over Ueno Bank collapse
Frozen savings and mass protests in Paraguay followed the failure of a digital lender, leading Congress to oust President Santiago Peña.
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What happened
Ueno Bank, a major digital lender in Paraguay, shut down abruptly, freezing the savings of millions of customers and crippling the banking system. Protests grew as Congress impeached President Santiago Peña, and the Senate removed him from office and Pedro Alliana was sworn in as president. Prosecutors have since charged Peña, the former president, with two crimes linked to the collapse and taken him into custody.
Why it matters
The collapse has also left the national government and banking system under severe strain.
Timeline
- Nov 6, 6:01 PM ET: Members of Congress impeached Peña, accusing him of conflicts of interest and financial misconduct.
- Nov 6, 6:03 PM ET: An order was issued for Peña's arrest on offenses tied to the bank collapse, soon after the Senate removed him from office.
- Nov 7, 5:52 PM ET: Prosecutors charged the ousted president with two crimes linked to the collapse of the bank.
- Nov 7, 6:23 PM ET: Prosecutors detained Peña after taking him to the attorney general's office for questioning.
Coverage
- Paraguay’s former president faces prosecutors after his removal over bank collapse (Seattle Times)
- A bank collapse exposes the dark side of Latin America’s star economy (Financial Times)
- Paraguay’s Senate impeaches President Peña amid banking crisis (sana.sy)
- New Paraguayan president promises full compensation after bank collapse following predecessor’s impeachment (Anadolu Agency)
- Paraguay’s Pena under military protection in bank collapse chaos (Al Jazeera)
- Mass protests over Ueno Bank collapse topple Paraguay’s president (wsws.org)
- Banking scandal ends Paraguay president's tenure, lands him under house arrest (thenews.pk)
- Paraguay president impeached over banking crisis, placed under house arrest (South China Morning Post)
- Paraguay’s president ousted, faces arrest after bank collapse (wrtv.com)
- Ousted Paraguay president Santiago Peña ordered arrested for offenses tied to bank collapse (Boston Herald)
- Paraguay president impeached amid banking scandal (Cecilia Degl’Innocenti)
- Why the collapse of a major bank in Paraguay has the president facing impeachment (DW)
- Paraguay Protests Over Bank Lockout Intensify as Impeachment Vote Nears (Yahoo News)
- How Paraguay’s Ueno collapse is only its latest banking crisis (Al Jazeera)
- Paraguay's Peña offers resignation amid banking scandal, protests (France 24)
- Paraguay President Peña under investigation, faces removal from office over bank collapse (kdhnews.com)
- Paraguay president steps down as banking crisis sows chaos (Arab News)
- 18 reactions | Paraguay's President Santiago Peña has stepped down... (facebook.com)
- Paraguay raids former president Pena's home after bank collapse
- Paraguay ousts President Santiago Peña over Ueno Bank collapse
- Paraguay president impeached as Ueno Bank collapse freezes savings
- Paraguay's president quits after Ueno Bank collapse
- Paraguay's central bank takes control of Ueno digital lender
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