From kumparan · · 1m
Paraguay Senate Removes President Peña Amid Bank Collapse
Paraguay's Senate removes President Santiago Peña after Ueno Bank collapse sparks legal threats.
In brief
Paraguay's Senate removes President Santiago Peña after Ueno Bank collapse sparks legal threats. Paraguay's Senate removed President Santiago Peña following Ueno Bank's collapse, which triggered legal action over alleged ties to the bank. Originally reported by kumparan.
Senate removes President Peña
Paraguay's Senate removed President Santiago Peña on November 6 after Ueno Bank collapse.
Ueno Bank collapse
Ueno Bank, a major digital bank, collapsed this week, freezing savings for millions of Paraguayans.
Legal action against Peña
Paraguay's prosecutors opened a criminal investigation into Peña for alleged ties to Ueno Bank.
Peña's political ties
Peña, a close ally of former US President Donald Trump, previously offered to resign amid pressure over Ueno Bank.
Senate's decision
All 44 senators voted to remove Peña, ending his eligibility for lifetime Senate seats without voting rights.
Political fallout
Peña's removal follows a political crisis triggered by Ueno Bank collapse and protests over financial instability.
Here's the gist
Paraguay's Senate removed President Santiago Peña following Ueno Bank's collapse, which triggered legal action over alleged ties to the bank.
