Prosecutors in Paraguay on Saturday (November 7, 2026) charged recently deposed former President Santiago Peña with two crimes linked to the collapse of a major bank that has jeopardised the savings of hundreds of thousands of account holders and unleashed the nation's biggest political crisis in a decade.
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that → charge → decade
In a press conference on Saturday (November 7), Nancy Salomón, the South American nation's chief prosecutor for corruption and economic crimes, said Mr. Peña would be investigated for the crimes of breach of trust and administration for personal gain.
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Peña → say → gain
Mr. Peña's removal marks a major crisis for Paraguay, which returned to democratic rule in 1989.
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which → mark → 1989
Since then, the nation of six million people has been mostly governed by the conservative Colorado Party, of which Mr. Peña was a member.
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Peña → govern → which
Prosecutors said the former President could face up to 20 years in prison if he is found guilty of both crimes and have asked a judge to freeze Mr. Peña's assets and send him to prison while investigations continue.
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investigations → say → prison
Later on Saturday (November 7), Paraguayan Judge Humberto Otazu complied with that request and said Mr. Peña will be held at a military base as investigations continue, in order to “guarantee his compliance” with the anti-corruption probe.
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investigations → comply → probe
On Tuesday (November 3), regulators in Paraguay intervened in Ueno Bank, freezing the accounts of nearly three million customers and triggering a political crisis that led to Peña's removal by Congress on Friday (November 6) night.
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that → intervene → night
Earlier on Saturday (November 7), Mr. Peña was questioned by prosecutors at the Attorney General's compound, in the capital Asuncion.
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Peña → question → capital
The former President was not in handcuffs but was escorted by police.
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President → escort → police
Lawmakers accused Mr. Peña of using his political influence to steer hundreds of millions of dollars in public funds into Ueno while regulators overlooked risky insider lending.
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regulators → accuse → lending
Mr. Peña has denied wrongdoing.
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Peña → deny → wrongdoing
Paraguayan prosecutors on Friday (November 6) ordered the arrest of Mr. Peña and former Central Bank chief Carlos Carvallo as part of a criminal investigation into alleged breach of trust and other offenses tied to the collapse of Ueno Bank.
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prosecutors → order → Bank
Peña was transferred to a military base late Friday (November 6) as hundreds of protesters gathered outside his home.
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hundreds → transfer → home
The arrest order was issued soon after the Senate removed Mr. Peña from office in a unanimous vote.
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Senate → issue → vote
He was replaced by Vice-President Pedro Alliana, who began naming a new Cabinet on Saturday (November 7).
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who → replace → Saturday
The Central Bank said Saturday that 1.2 million Ueno customers had received partial or full reimbursement of their deposits.
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customers → say → deposits
Under Paraguayan law, deposits of up to $37,000 are insured.
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deposits → insure → 37,000
Mr. Peña submitted his resignation on Thursday (November 5), but Congress did not accept it and pressed ahead with an impeachment trial.
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Congress → submit → trial
Opposition lawmakers insisted on his removal to prevent him from leaving office with immunity.
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lawmakers → insist → immunity
“He must go, but not home.
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He → go → ?
He must go to a maximum-security prison,” opposition Sen Yolanda Paredes told reporters.
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Paredes → go → reporters
“The public is fed up with impunity.
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public → feed → impunity
In a farewell message released shortly before he was ousted on Friday (November 6), Mr. Peña expressed hope his departure would spare Paraguay further harm.
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departure → release → harm
“I do not want my presence to be a cause of greater division or instability,” he wrote.
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he → want → division
“My responsibility is to put the country above my personal fate.”
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responsibility → put → fate
Public outrage has intensified by the day.
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outrage → intensify → day
Thousands of protesters demanding access to their frozen savings and accountability for Ueno's failure have clashed with police firing rubber bullets and pepper spray this week.
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Thousands → demand → bullets
Paraguay's largest teachers' union, which has more than 40,000 members, plans to begin an indefinite national strike on Monday (November 9) to press for protection of public pension funds.
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which → have → funds
On Saturday (November 7), a few dozen protesters gathered outside the Attorney General's compound hoping to express their frustration with Mr. Peña, who was driven quickly out of the building.
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who → gather → building
Some of the protesters said they also want Paraguay's new President, who was a close ally of Mr. Peña, to be investigated.
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who → say → Peña
“They are all accomplices,” said Liliana Jara, a demonstrator who showed up at the site.
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who → say → site
The Aporia
