Ueno Bank collapse freezes millions of accounts in Paraguay and leads to house arrest of President Santiago Peña

Summary

The Guardian reports that the collapse of Ueno Bank has frozen millions of bank accounts in Paraguay and has led to the house arrest of President Santiago Peña, whose links to the bank are under scrutiny. The report describes Pedro Volpe, a 50-year-old writer and lawyer, who woke up last Tuesday, a day after payday, to a message from a friend asking whether his bank account was down too. When he opened his banking app he panicked, because he could not even see his balance.

Timeline

1. The Guardian

   7 Nov 2026, 11:00 UTCSource ↗

   The Guardian reports that Santiago Peña's links to Ueno Bank are being scrutinized after the crisis led to his house arrest and froze millions of bank accounts, and that writer and lawyer Pedro Volpe found he could not see his balance after the freeze.