Paraguay prosecutors raid presidential residence in Peña probe

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ASUNCION, Nov 12 - Paraguayan prosecutors raided the presidential residence as part of an investigation into former President Santiago Peña, who has been charged with crimes…

ASUNCION, Nov 12 - Paraguayan prosecutors raided the presidential residence as part of an investigation into former President Santiago Peña, who has been charged with crimes connected to the collapse of digital lender ueno, the prosecutor's office said in a statement on Thursday.

• The office said agents from the economic crimes unit were carrying out "technical work aimed at extracting data and gathering information relevant to the investigation" at the early 20th-century building located in capital city Asuncion

• This was the first time in Paraguay's history that the presidential palace has been raided, according to historian Herib Caballero

• Peña, a 47-year old economist who started his term in 2023, is being held in pretrial detention at a military facility while prosecutors investigate his ties to the bank

• The collapse of ueno left millions of customers struggling to access their accounts

• Prosecutors allege that Peña used his position as president to influence decisions by government agencies and state-owned entities to keep large amounts of public money deposited at ueno, despite maintaining financial ties to the lender

• The fallout from the collapse pushed credit ratings agency Fitch to place the country's sovereign rating on watch for a possible downgrade REUTERS

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