Paraguay's Ex-President Faces $809 Million Loss Claim as Court Blocks Assets

Paraguay's Public Ministry has attributed a preliminary financial loss of $809.5 million to operations involving Ueno Bank in its formal accusation against former President Santiago Peña and former Central Bank President Carlos Carvallo, according to ABC Color on Sunday. The court has blocked Peña's assets and bank accounts. The amount includes $576.1 million in local currency deposits and $233.4 million in dollar funds from state entities like the IPS, Itaipu Binacional, Yacyretá, and ANDE, held while the bank lent to linked companies. The accusation also cites two loans to Peña in May 2024 totaling about $510,500 for a private residence, with monthly payments roughly six times his presidential salary. Carvallo is in preventive detention on charges including breach of trust and false documents, while Peña also faces preventive prison in a military unit in Asunción. Both remain under investigation without final conviction.