World · Latin America · 5 hrs ago
Paraguay charges former president Peña over Ueno bank collapse
Paraguayan prosecutors added a criminal association charge against former president Santiago Peña over the collapse of digital bank Ueno.
Peña was removed from office by Congress last week and is being held in pretrial detention at a military facility.
Prosecutors allege he directed public money to Ueno and concealed or played down its financial problems while having financial ties to the bank.
Ueno held more than $800 million in public funds, and its collapse left customers unable to access their accounts.
The Central Bank says it has returned savings to more than 1.8 million depositors, while protests called for accountability and repayment.
Prosecutors say missing assets have been found abroad and are taking steps to request that they be frozen.
Three former central bank officials were also arrested over allegations they knew about Ueno’s problems; Peña denies all charges.
Paraguayan prosecutors charged former president Santiago Peña with criminal association over his alleged role in the collapse of digital bank Ueno.
The charge was announced on Friday, a week after Congress removed Peña from office.
He was already facing breach of trust and self-dealing charges and was being held in pretrial detention at a military facility.
Prosecutors allege he directed public funds to Ueno and concealed or downplayed its financial troubles despite having financial ties to the bank.
The collapse left customers unable to access their accounts and prompted protests across Paraguay.
- Who
- Former Paraguayan president Santiago Peña was charged by Paraguayan prosecutors.
- What
- He faces a criminal association charge over his alleged role in Ueno’s collapse, in addition to breach of trust and self-dealing charges.
- When
- The new charge was announced on Friday, November 13, 2026.
- Where
- Paraguay. Prosecutors also said assets had been located abroad, without specifying the countries.
- Why
- Prosecutors allege Peña used his position to direct public funds to Ueno and concealed or downplayed the bank’s financial troubles.
Santiago Peña
Paraguayan prosecutors
Alleged conduct
Santiago Peña
Peña denies all charges.
Paraguayan prosecutors
Prosecutors allege he used his office to direct public funds to Ueno and concealed or downplayed its financial troubles.
Financial ties
Santiago Peña
Peña held a stake in Ueno’s holding company until last year.
Paraguayan prosecutors
Prosecutors say he had financial ties to the bank while using his position to influence public funds.
Peña entered office as president.
Congress rejected Peña’s attempt to resign and removed him through impeachment; he was arrested shortly afterward.
Prosecutors raided the presidential residence in Asuncion to extract data and gather information for the investigation.
Prosecutors announced a criminal association charge against Peña and said assets had been located abroad.
- New charge
- Criminal association
- Earlier charges
- Breach of trust and self-dealing
- Ueno public funds
- More than $800 million
- Savings returned
- More than 1.8 million depositors
- Detention
- Pretrial detention at a military facility
3 sources
What people are saying
The necessary steps are under way to request that they be frozen
technical work aimed at extracting data and gathering information relevant to the investigation