Paraguay Police Raid Peña Home After Impeachment Over Ueno Bank Collapse

The collapse of Ueno Bank left millions of people unable to withdraw their deposits and sparked angry protests. The crisis quickly became a reckoning over the relationship between political power and finance, according to Le Monde.

The investigation centres on Peña's connections to the bank and his conduct in office. The Hindu reported that he is accused of steering millions in government deposits to Ueno and concealing its financial troubles despite warnings about loans and solvency. These are allegations, not findings of guilt.

On November 6, the Senate impeached Peña rather than accepting his offer to resign, according to France24. That distinction matters: his departure was a parliamentary removal, not simply a voluntary resignation.

Pedro Alliana, who had been vice president under Peña, was sworn in as president that Friday, nu.nl reported. Peña was initially placed under house arrest following his impeachment, according to Euronews.

On November 7, prosecutors charged Peña with breach of trust and administration for personal gain, and asked a court to jail him pending trial, CBC Top Stories reported. Infobae reported that former Central Bank president Carlos Carvallo was also charged in connection with the scandal.

A judge ordered Peña into pretrial detention on November 7, according to Excélsior. Reporting on his transfer gives different explanations: DIE ZEIT cited possible flight risk in describing his placement in military barracks, while France24 said he was transferred to a military facility for his own safety.

On November 8, prosecutors searched Peña's summer home, CNN Brasil reported. Infobae identified the property as being in San Bernardino and reported that it had been built with loans from Ueno Bank.

Peña is out of office and in pretrial detention, while Alliana has taken over the presidency. The criminal inquiry now extends beyond questioning the former president to searches of his property and restrictions on assets.

A judge ordered restrictions on Peña's and Carvallo's assets and the freezing of funds and financial products, according to RT en Español - Noticias. In coverage published November 9, La Nacion reported that investigators found a hidden vault during the search of one of Peña's homes. The supplied report does not establish what it contained.

The next substantive question is what evidence the property searches produce about Peña's dealings with Ueno. Prosecutors' allegations concern both the movement of public deposits and the concealment of financial problems, according to The Hindu.

For depositors, the immediate issue remains access to their money. The supplied coverage describes millions locked out of their deposits but gives no confirmed timetable for restoring access or recovering funds.