Paraguay: prosecutors raid the presidential residence for the first time in the Ueno Bank scandal

Paraguay's Prosecutor's Office raided the presidential residence Mburuvicha Róga in Asunción on Thursday as part of the investigation into the collapse of Ueno Bank, which led to the removal and arrest of former president Santiago Peña. It is the first time in history that the official residence of Paraguayan presidents has been searched.

The operation, led by prosecutors Silvia González and Laura Giacummo of the Economic Crimes and Anti-Corruption Unit, seeks to extract data and gather information of interest to the case, the Public Ministry said in a statement.

Peña was removed from office on November 6 through an expedited impeachment trial and remains in pretrial detention. Prosecutors accuse him of breach of trust as instigator and of self-serving administration as perpetrator, offenses carrying up to 15 years in prison. He is accused of using his influence to favor the bank, in whose parent group he held shares until 2025.

The Central Bank intervened in Ueno Bank on November 3 over serious solvency problems. The bank had 2.94 million customers and the estimated damage amounts to US$815 million. On Thursday, banking superintendent Holger Insfrán was also arrested during a raid on his home, and ten bank executives are already in detention.

Photo: La Razón / AFP

Source: Reuters