Lawmakers are pursuing impeachment against Santiago Pena to deny him immunity from prosecution
Paraguayan President Santiago Pena and his associates were behind a massive Ponzi scheme that led to the collapse of one of the country’s largest banks, leaving nearly 3 million customers without access to their savings, Senator Esperanza Martinez has claimed to RT.
The scandal erupted earlier this week after the authorities intervened and ordered the dissolution of Ueno Bank, a rapidly expanding digital lender. Pena offered his resignation on Thursday, but lawmakers pressed ahead with impeachment proceedings to prevent him from gaining immunity from prosecution.
”It was a colossal fraud project, involving the president of the republic and his economic circle,” Martinez told RT on Thursday, accusing Pena’s associates of creating a network of more than 50 shell companies.
According to the senator, Ueno was virtually unknown in 2023 but expanded rapidly after Pena took office, allegedly benefiting from preferential treatment that helped it become one of Paraguay’s dominant lenders within three years.
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