Former Paraguayan President Santiago Pena detained in Ueno Bank probe
World
Big news from Paraguay: police just searched former President Santiago Pena's house while investigating the massive Ueno Bank collapse.
The bank's downfall froze more than $800 million in government funds and hit nearly half the country, forcing the government to step in.
After being impeached by the Senate on November 6, Pena is now in detention.
Santiago Pena accused over Ueno funds
Pena allegedly pushed government money into Ueno Bank even though he knew it was in trouble.
He sold his shares last year, but investigators are also looking into two loans from Ueno Bank totaling around $500,000 he used to build his mansion.
With Vice President Pedro Alliana now stepping up as president, the government has started paying back affected customers, so far returning $158 million.