PARAGUAY · UENO BANK CASE
Key Facts
- The event Prosecutors entered the Banco Central del Paraguay headquarters in Asunción on Friday 6 November 2026.
- The case A criminal complaint over the Ueno Bank collapse names President Santiago Peña, who is accused but not convicted.
- The trial The Senate rejected Peña’s request for 72 more hours by 39 votes and heard his lawyers.
- Customers hit About 3 million Ueno Bank customers lost access to their deposits.
- Still open The Senate’s vote on removing Peña had not been announced on Friday evening.
- Power Index Paraguay ranks 10th of 14 in The Rio Times Latin America Power Index, with 35.0 points (November 2026 edition).
Paraguay prosecutors entered the central bank’s headquarters in Asunción on Friday 6 November 2026, as part of a criminal investigation that includes President Santiago Peña. The visit belongs to the Ueno Bank case, the collapse of a digital bank that froze deposits for about 3 million customers.
The same day, the Senate, sitting as a court in Peña’s impeachment trial, refused his request for 72 more hours to prepare his defense. The accusations remain allegations, and no court has convicted anyone.
What Prosecutors Did at the Central Bank
Prosecutors from the Unidad Especializada de Delitos Económicos y Anticorrupción, the state’s economic-crimes and anti-corruption unit, went to the Banco Central del Paraguay on Friday. The visit is part of the investigative steps by the Public Prosecutor’s Office to gather evidence in the cases opened over Ueno Bank.
Other teams searched companies linked to the case the same day, including the offices of Technoma, a firm in Asunción. Prosecutors had already formed a team on Tuesday 3 November after the central bank itself filed a criminal complaint of more than 200 pages.
Why the Probe Reaches the Central Bank
Opposition lawmakers filed an expanded complaint naming Carlos Carvallo, the former central bank president, and Holger Insfrán, the bank supervisor, plus board members. It accuses them of breach of trust for allegedly acting too late on Ueno Bank.
The filing says the supervisor found excess lending to linked companies early in the year, and that internal reports called some moves prohibited. It also asks prosecutors to examine state bodies such as the pension fund IPS, which held deposits at Ueno.
Where the Impeachment Trial Stands
Peña offered to resign on Thursday 5 November, but Congress lacked a quorum to decide, so the Senate trial went ahead. On Friday the Senate rejected his 72-hour extension request by 39 votes, with three in favor.
Peña’s lawyers, Adolfo Ferreiro and Ricardo Preda, then addressed the Senate and argued the trial is void because he resigned. The Senate approved the prosecution’s evidence unanimously, with 41 votes, and moved toward closing arguments and a vote on removal.
In Plain English, Who Is Who
Ueno Bank is a Paraguayan digital bank that the central bank moved to wind down after its solvency fell below half of the required minimum. Peña is Paraguay’s president, and Pedro Alliana is the vice president who would take over.
Basilio Núñez, the Senate president, leads the Congress, which acts as a trial court in impeachment.
What It Means for You
If you hold Paraguayan assets or money in Paraguay, investigators are now looking at the supervisor as well as the bank. The central bank is organizing payouts to Ueno customers, as our report on the first payouts to savers explains.
The political crisis is moving quickly, as our report on Peña skipping his own trial shows. We also covered the earlier exit of the central bank chief in Paraguay Bank Chief Quits as Ueno Is Shut.
What Is Not Known
The Senate’s vote on removing Peña had not been announced on Friday evening. The Senate leadership said it expected a conviction, and the result will come from the Senate itself.
It is not known whether prosecutors will charge anyone. The Public Prosecutor’s Office would announce any charges, and has so far spoken only of possible breach of trust and fraud.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Why did prosecutors enter Paraguay’s central bank?
They are investigating the Ueno Bank collapse and a complaint that names President Peña, former central bank officials and others. The visit on Friday 6 November was to gather evidence for those cases.
Is President Peña charged with a crime?
Prosecutors are investigating a complaint that names him, but no court has convicted him. The Senate is separately trying him in an impeachment process.
What is Ueno Bank?
It is a Paraguayan digital bank that the central bank moved to wind down after its solvency fell below the required level. About 3 million customers lost access to their deposits.
What happens next in the Senate trial?
The Senate has approved the evidence and was moving toward closing arguments and a vote on removal. A removal would end his presidency.
Sources: Banco Central del Paraguay and Ministerio Público case filings on Ueno Bank, 6 November 2026; Senate of Paraguay, impeachment trial session, 6 November 2026.
Editorial responsibility: Matthias Camenzind, Editor-in-Chief · Editorial standards · Report an error