# Paraguay’s pro-Israel former president taken into custody over banking crisis

- URL: https://talkfuse.com/story/paraguays-pro-israel-former-president-taken-into-custody-over-banking-crisis/
- Published: 2026-11-08T02:03:50+00:00
- Updated: 2026-11-08T04:05:42+00:00
- Original publisher: Middle East Eye (publisher lean: Left)
- Original article: https://www.middleeasteye.net/live-blog/live-blog-update/paraguays-pro-israel-former-president-taken-custody-over-banking-crisis
- Topics: Government, Middle East, Politics, World

## Key points

- Former president Santiago Pena was detained after prosecutors charged him over Ueno Bank.
- The bank collapse left millions cut off from their money.
- Prosecutors allege irregular lending and use of public and pension funds.

## Summary

Former Paraguayan president Santiago Pena was taken into custody on Saturday after prosecutors charged him over alleged irregular lending and the use of public and pension funds by Ueno Bank. His removal by the Senate followed the collapse of the bank, which left millions unable to access their money and prompted major protests.

The indictment alleges that Ueno Bank received deposits and loans from public and pension entities between 2023 and 2026, and lent irregularly to companies linked to its economic group. Pena, 47, had owned shares in Ueno Holding, the bank’s controlling company, until selling them last year. He was Paraguay’s youngest-ever president and maintained close ties with Israel, reopening Paraguay’s embassy in Jerusalem in 2024.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.