Hidden Money in the Seychelles: Mario Abdo, Ex-President of Paraguay at Center of Wealth Probe

Paraguay has launched a criminal investigation into its former president, Mario Abdo Benítez, and his wife, Silvana López Moreira, after authorities uncovered evidence suggesting they concealed over $21 million in offshore bank accounts in the Seychelles.

The nation’s top legal official, Attorney General Emiliano Rolón, confirmed the probe in July 2025, focusing on whether Abdo and his wife hid assets, laundered money, or abused power for personal gain.

Documents from Paraguay’s Secretariat for the Prevention of Money Laundering revealed that two companies, Star Capital Financial Services Limited and Exchange Contracts International Finance Limited, opened Seychelles bank accounts while Abdo was in office and immediately after.

These accounts received large wire transfers from international firms—single sums ranging from $600,000 to $1.7 million—yet neither showed up in Abdo’s mandatory asset declarations as president.

This absence raised suspicions, as public records and asset laws require presidents to disclose such holdings. Authorities also looked at two asphalt supply companies, Aldia SA and Createc SA, which multiplied their revenues more than seventy times during Abdo’s time in office.

Their revenue increase did not match Abdo’s declared personal or business income, deepening worries about hidden business dealings and the misuse of political connections for profit.

Abdo has denied the accusations and claims they are part of political infighting inside the ruling Colorado Party, which has a history of corruption scandals. His predecessor also faced corruption charges and US sanctions.

Paraguay’s Corruption Challenge

This story matters beyond Paraguay. When countries fail to spot or stop possible asset hiding and corruption by leaders, they risk losing global investment and undermine public trust in government.

Paraguay’s investigation, using international cooperation, shows how tracing hidden wealth has become crucial for any country hoping to improve its business climate and protect citizens’ interests.

Despite improvements in anti-money laundering laws, Paraguay admits that complex financial crime remains hard to detect and prosecute. Legal delays and limited resources often slow down or weaken serious cases.

This case highlights the global importance of transparency from top leaders, and the need for continued vigilance against corruption, both for investors and for ordinary people relying on public funds.

More: Latin America news in English, every day from The Rio Times.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error