The Senate rejected Peña's offer to resign, voting 44 to 0 to strip him of his executive immunity and a lifetime Senate seat. Impeachment charges alleged he manipulated regulatory oversight, diverted pension funds, and concealed conflicts of interest linked to shares he held in the bank's parent company until last year. Now serving as interim president, Pedro Alliana has promised to fully compensate all affected citizens. Peña has denied the allegations, while prosecutors prepare to question him regarding breach of trust, influence peddling, and misappropriation of funds.
Key points
Peña is currently held under house arrest and faces questioning by prosecutors for multip…: Peña is currently held under house arrest and faces questioning by prosecutors for multiple financial crimes.
The institutional collapse ignited widespread public demonstrations across Paraguay, part…: The institutional collapse ignited widespread public demonstrations across Paraguay, particularly throughout the capital city of Asunción.
Interim President Alliana has pledged that all citizens impacted by the bank's failure wi…: Interim President Alliana has pledged that all citizens impacted by the bank's failure will receive full compensation.
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Paraguay's President Santiago Peña impeached and arrested
- Published
Paraguay's President Santiago Peña has been impeached and placed under house arrest.
Peña was arrested on Friday minutes after lawmakers, including from his own party, voted to remove him from office due to a crisis triggered by the collapse of Ueno Bank earlier this week.
He had offered to step down on Thursday, but the move to impeach him and charge him with misconduct rather than accept his resignation meant he was stripped of his lifetime Senate seat and the immunity granted to ex-presidents.
Peña, who until last year held shares in the company that owned the bank, has denied any wrongdoing.
The demise of the digital bank has left more than half of Paraguay's population without access to their savings after it was seized by Paraguay's central bank.
An estimated three million depositors remain unable to access their savings and pensions prompting widespread protests particularly in the capital, Asunción.
The impeachment charges that led to Peña's removal alleged he had conflicts of interest, manipulated regulatory oversight, diverted pension funds, and…
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