Paraguayan President Arrested and Removed Over Bank Collapse That Cost Millions Their Savings

demorgen.be (Dutch) —

Paraguayan President Santiago Peña was arrested Friday night after the Senate removed him from office over his role in a major banking scandal that left millions of citizens unable to access their funds. He is now under house arrest. The crisis stems from the collapse of digital bank Ueno, which managed private funds and government pension money. Peña, a former shareholder in the bank's holding company, was unanimously found guilty of misconduct. Nearly 3 million of Paraguay's 6.5 million people are affected, triggering mass protests. Peña had announced his resignation Thursday, but the Senate proceeded with impeachment to strip him of legal immunity and a lifetime Senate seat. Vice President Pedro Alliana was sworn in as his successor, promising compensation, while the central bank has begun repaying affected account holders.


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