Charges Strengthened Against Former President of Paraguay

 

 

TT-AFP

 

Published 21:19

 

Paraguay’s President Santiago Peña signed his resignation on November 5. It was not accepted, and he was removed from office the following day through impeachment proceedings. Photo: Laura Fioravanti /AP/TT

Prosecutors in Paraguay have decided to expand the charges against Santiago Peña, who was removed from office via impeachment.

Peña is currently in custody, suspected of involvement in a financial scandal centered on the major institution, Ueno Bank.

The former president is suspected of "criminal conspiracy" and of having "acted as the leader" of five central bank officials who shielded Ueno Bank.

The bank—where approximately 60 percent of the country’s adult citizens held accounts—has collapsed, triggering a wave of financial instability across Paraguay.

Peña was previously a co-owner of the corporate group that controls the bank and is accused of directing state funds to Ueno during his time as president.

Among other allegations, he is suspected of concealing or downplaying the bank’s financial troubles, despite warnings regarding a capital shortfall.