Paraguay’s Ousted President Charged in Ueno Bank Collapse

Paraguay’s former President Santiago Pena has been charged with breach of trust and administration for personal gain over the collapse of Ueno Bank, which left millions unable to access their savings. He was placed under house arrest on Friday after impeachment. Pena is accused of directing over $800 million in public funds into Ueno, shielding it from regulatory scrutiny, and allowing the state pension fund to deposit $355 million above legal limits. His central bank appointee, Carlos Carvallo, was also charged on Saturday. The bank’s collapse has triggered violent protests across Paraguay, with nearly three million people affected. While 1.2 million customers have received reimbursements, public anger persists, and Pena’s successor, Pedro Alliana, faces his own investigation.