Paraguay’s President Santiago Pena was removed from his post on Friday. At present he is under house arrest. 44 members of the Senate voted unanimously in favor of removing Peña from office. This action was taken against Pena after the collapse of Ueno, a big bank of the country. He has been accused of wrongdoing while in office. About 30 lakh customers have been affected by the bank’s collapse. Ueno Bank was taken over by regulatory agencies three days ago. After this, the use of customers’ deposits and bank cards stopped. This created a political crisis in the country. Pena will remain at home until the investigation is completed. Pena has been ordered to be kept in custody at his home. They will not be allowed to leave the house until they are produced before the Economic Offenses and Anti-Corruption Unit. In this order, instructions have also been given for the arrest of former central bank chief Carlos Carvalho. Carvalho was appointed by Pena himself. However, it is not clear whether Carvalho has been arrested. Lawmakers alleged that Peña used his political influence to have hundreds of millions of dollars of government money deposited into Ueno Bank. It is alleged that during this period the regulatory agencies did not pay attention to the bank’s risky insider loans. Vice President Pedro Aliana assumed the presidency After Pena’s removal, Vice President Pedro Aliana took the oath of office on Friday. He will complete the remaining term till August 2028. The challenge before them is to return the money of the bank customers and take action against those responsible for the collapse of the bank. Aliana, 52, is the leader of the long-ruling Conservative Colorado Party. He has been the former governor of the country’s southern province of Nymbuku and former speaker of the lower house. The collapse of the Ueno Bank deepens the political crisis in Paraguay. The collapse of the Ueno Bank has plunged Paraguay into its biggest political crisis in more than a decade. On Tuesday, regulatory agencies took possession of the bank. After this, President Santiago Pena offered to resign. His party also turned against him and four senior government officials resigned. The protest was led by former president and Colorado party head Horacio Cartes. He has been Peña’s political mentor. It was Cartes who made him the Finance Minister and supported him for the post of President. However, after becoming President, Peña started building his own political base. Bank Ueno, which grew rapidly with government money, had within a few years become the fifth largest bank in Paraguay. More than $800 million of government money was deposited in it. Lawmakers allege that Pena deposited $355 million of the government pension fund in the bank, which was more than the legal limit. Pena is also accused of owning a stake in Ueno’s holding company and appointing a former bank official to head the central bank. According to analysts, the bank received lax regulatory scrutiny due to its political connections. Customers’ accounts stuck, money started being returned. Due to the collapse of the bank, customers could not withdraw money from their accounts and card purchases also stopped. According to Ueno, more than 10 lakh people had opened their first account in this bank. From Thursday, money began to be returned to customers who have up to 10 million guarani (about $1,600) deposited in their accounts. Deposits in the bank are insured up to about $37 thousand. A case has been registered against 27 people, including the bank owner, and 27 people, including the bank’s controlling shareholder, Miguel Vasquez, on charges of breach of trust and attempted fraud. Six directors of the bank are in custody. Authorities seized nine luxury cars, a yacht and small aircraft from Vasquez’s home. ——————————–
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पैराग्वे के राष्ट्रपति पद से हटाए गए सैंटियागो पेना: हाउस अरेस्ट; देश का बड़ा बैंक डूबने पर कार्रवाई, 30 लाख लोगों पर असर
