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Paraguayan President Santiago Peña Ousted Amid Bank Collapse Scandal

Paraguayan President Santiago Peña Ousted Amid Bank Collapse Scandal

First seen 6 Nov 2026, 19:45 UTC • •
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ThreatCluster AI
ThreatCluster •November 7, 2026 at 19:18 UTC
  • •Santiago Peña was impeached and removed from office over the Ueno Bank collapse.
  • •The bank's failure affected nearly 3 million customers, leading to widespread protests.
  • •Peña faces serious criminal charges, including breach of trust and influence peddling.

Santiago Peña, the President of Paraguay, was ousted by the Senate on November 6, 2026, following the collapse of Ueno Bank, which left millions of customers unable to access their savings. Peña faces criminal charges including breach of trust and influence peddling, with allegations that he misused public funds to benefit the bank. The bank's failure has triggered widespread protests, with nearly half of Paraguay's population affected. Following his removal, Vice President Pedro Alliana was sworn in as the new president. Peña's resignation was initially offered but rejected by Congress, which opted for impeachment to prevent him from retaining legal immunity. Prosecutors have launched investigations into the bank's collapse, and Peña is currently under house arrest pending further legal proceedings. The situation marks one of the most significant political crises in Paraguay since its return to democracy in 1989.

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Timeline

2026-11-02
Ueno Bank seized by regulators
The Central Bank of Paraguay initiated resolution proceedings for Ueno Bank after its solvency ratio fell below regulatory minimums.
Cointelegraph
2026-11-06
Peña impeached by Senate
The Paraguayan Senate unanimously voted to remove President Peña from office amid the bank crisis, rejecting his resignation.
Nypost
2026-11-07
Peña placed under house arrest
Following his impeachment, Peña was placed under house arrest as prosecutors launched a criminal investigation into his conduct related to Ueno Bank.
Nypost

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Common questions

What led to Peña's impeachment?
Peña was impeached due to allegations of misusing public funds and influence peddling linked to the collapse of Ueno Bank.
How many customers were affected by Ueno Bank's collapse?
Nearly 3 million customers were affected, with many unable to access their savings.
What are the next steps for Peña?
Peña is under house arrest and will face prosecutors for questioning regarding the charges against him.