From NPR · · 1m 30s
Paraguay's president impeached over bank collapse
Santiago Peña was ousted Friday after a digital bank serving millions collapsed, leaving customers without access to their money.
In brief
Santiago Peña was ousted Friday after a digital bank serving millions collapsed, leaving customers without access to their money. Paraguayan President Santiago Peña was impeached and placed under house arrest after the collapse of Ueno Bank, which served over three million customers and left millions without access to…
President impeached after bank collapse
Paraguayan President Santiago Peña was impeached and placed under house arrest Friday after the collapse of Ueno Bank, a digital lender serving about three million customers.
Peña was a shareholder in the failed bank
Peña, one of Washington's closest allies in the region, was a shareholder in Ueno Bank. Legislators said he jeopardized state assets and benefitted himself through his connection to the bank.
Senate finds Peña guilty of malfeasance
At proceedings in the Senate Friday, legislators unanimously found Peña guilty of malfeasance in office. Prosecutors then accused him of breach of trust, among other charges.
Peña apologizes but denies wrongdoing
Peña has denied any wrongdoing but appeared before prosecutors Saturday morning. In a speech posted to social media, he said: I want to apologize to the Paraguayan people if I have failed you.
“I want to apologize to the Paraguayan people if I have failed you.”
Vice president sworn in, promises compensation
Vice President Pedro Alliana was sworn in as president to serve until August twenty twenty-eight. He announced he would take action to compensate people whose money was lost in the bank's collapse.
The essence
Paraguayan President Santiago Peña was impeached and placed under house arrest after the collapse of Ueno Bank, which served over three million customers and left millions without access to their savings.
