UENO BANK COLLAPSE
Paraguay's ousted president faces prosecutors after his removal over bank collapse
Santiago Pena was removed from office by Congress following a bank failure affecting nearly three million customers. Prosecutors ordered his arrest for alleged breach of trust and other offenses related to Ueno Bank's collapse. His successor, Vice President Pedro Alliana, began forming a new Cabinet to address the situation. Public protests demanding accountability and access to frozen funds escalated significantly in response.
How a banking scandal is taking down Trump’s ally in Paraguay
Paraguay's Ueno Bank has collapsed, leaving customers locked out of their accounts and prompting nationwide protests. President Santiago Peña faces impeachment while being linked to the bank's swift downfall amid allegations of misconduct. The Central Bank had found serious issues with Ueno’s lending practices prior to its seizure, which caused it to be declared insolvent. Regulators found that the bank issued loans beyond legal limits without proper categorization.
Ousted Paraguayan President Santiago Pena placed under house arrest after bank collapse; Pedro Alliana sworn in as sudden successor
Santiago Pena, the ousted President of Paraguay, was placed under house arrest on charges of misconduct. His removal follows the collapse of Ueno Bank, affecting nearly half of Paraguay's population. Vice President Pedro Alliana has assumed presidency amidst public outcry for accountability. Regulators seized Ueno Bank, locking depositors out of their accounts and triggering a political crisis. Lawmakers allege Pena abused his political influence regarding Ueno's operations and regulatory oversight.
Paraguayan president Santiago Pena impeached minutes after resigning following bank collapse
The 78-0 vote marked a stunning repudiation of Pena by lawmakers from his long-ruling Colorado Party, who joined the opposition in backing his impeachment after three days of demonstrations rocked the capital, Asuncion.
On This Day in History, July 4: Declaration of Independence proclaimed, Battle of Hattin, Statue of Liberty presented, Philippines gains independence, Higgs boson discovery and more
On This Day in History, July 4, the United States proclaimed the Declaration of Independence, while other landmark events included the Battle of Hattin, the announcement of the Louisiana Purchase, France presenting the Statue of Liberty, Philippine independence, the signing of the Freedom of Information Act, the death of Swami Vivekananda and CERN's announcement of the Higgs boson discovery, making the date significant across politics, science, culture and military history.
BoJ, Japanese govt slug it out over interest rate hike
The Bank of Japan (BoJ) may raise its benchmark lending rate from 0.25%, stepping up efforts to head off an investment bubble.
