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The Paraguayan Fiscalía announced on Sunday that it had ordered a search operation at the luxury residence of former President Santiago Peña. Peña, who is currently in preventive detention as part of an investigation into the collapse of Ueno Bank, was the target of the operation. The search was carried out by a team led by prosecutors Silvia González, Cristhian Benítez and Elena Fiore. They entered the property in San Bernardino, a town in the central region of Paraguay about 50 kilometres from the capital, Asunción. The house is reportedly valued at more than one million dollars. Peña was removed from office after a court found him guilty of “mal desempeño de funciones” (misconduct in office). On Saturday he was formally charged with alleged breach of trust and self‑benefit. He remains confined at the Regimiento de Escolta Presidencial, a military unit in Asunción. The collapse of Ueno Bank froze the assets of roughly 2.94 million clients, including state institutions that, during Peña’s administration, deposited public funds in the bank. According to the Fiscalía’s indictment, Ueno Bank allegedly granted Peña two simultaneous loans in May 2024 totaling 3.548 billion guaraníes (about US$577,192 at current exchange rates). The loans were intended to finance the construction of his San Bernardino home and were to be repaid in monthly installments of 239 million guaraníes (about US$38,880), roughly six times his presidential salary. The indictment alleges that Peña intervened in matters related to the placement, renewal and retention of significant sums of money from public and pension entities within the bank. It also claims that he had a prior economic and corporate relationship with Ueno Holding, a conglomerate that includes the now‑intervened financial institution. In addition to Peña, the Fiscalía has charged 27 other individuals, including Miguel Vásquez, one of the founders of Ueno Bank. Article source: El Nuevo Diario | Image credit: El Nuevo Diario
The Paraguayan Fiscalía announced on Sunday that it had ordered a search operation at the luxury residence of former President Santiago Peña. Peña, who is currently in preventive detention as part of an investigation into the collapse of Ueno Bank, was the target of the operation. The search was carried out by a team led by prosecutors Silvia González, Cristhian Benítez and Elena Fiore. They entered the property in San Bernardino, a town in the central region of Paraguay about 50 kilometres from the capital, Asunción. The house is reportedly valued at more than one million dollars. Peña was removed from office after a court found him guilty of “mal desempeño de funciones” (misconduct in office). On Saturday he was formally charged with alleged breach of trust and self‑benefit. He remains confined at the Regimiento de Escolta Presidencial, a military unit in Asunción. The collapse of Ueno Bank froze the assets of roughly 2.94 million clients, including state institutions that, during Peña’s administration, deposited public funds in the bank. According to the Fiscalía’s indictment, Ueno Bank allegedly granted Peña two simultaneous loans in May 2024 totaling 3.548 billion guaraníes (about US$577,192 at current exchange rates). The loans were intended to finance the construction of his San Bernardino home and were to be repaid in monthly installments of 239 million guaraníes (about US$38,880), roughly six times his presidential salary. The indictment alleges that Peña intervened in matters related to the placement, renewal and retention of significant sums of money from public and pension entities within the bank. It also claims that he had a prior economic and corporate relationship with Ueno Holding, a conglomerate that includes the now‑intervened financial institution. In addition to Peña, the Fiscalía has charged 27 other individuals, including Miguel Vásquez, one of the founders of Ueno Bank.
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