San Bernardino, Paraguay — Prosecutors opened a secure room at a residence linked to former president Santiago Peña on November 10 and found it empty. The search was part of the investigation into the collapse of Ueno Bank, which has already cost Peña the presidency.
In its account of the search, Paraguay’s Public Ministry said the vault functioned as a panic room. It contained no cash or other items and appeared new, with no visible signs of prior use. Prosecutors said Peña, through his legal team, told investigators where to find the key.
The room drew attention after investigators were unable to open it during the initial search on November 8. The official account settles what investigators found inside on Tuesday. It does not establish where the bank’s money went.
What investigators took from the property
Prosecutors said they seized documents, computers and components of the property’s surveillance system elsewhere in the house for analysis. Paraguay’s agency for seized and confiscated assets, known as Senabico, took over administration of the residence.
Investigators are examining suspected irregular financial operations involving companies linked to the Vázquez Group, ABC Color reported after a prosecutors’ briefing on Monday. Peña is among those charged in the case and has maintained his innocence.
Paraguay’s Public Ministry announced the search before the room was opened.
Causa Ueno Bank: realizan allanamiento en inmueble del expresidente Santiago Peña en San Bernardino.
— Fiscalía Paraguay (@MinPublicoPy) November 9, 2026
NPY reports on what prosecutors found when they opened the room.
How the bank crisis reached the presidency
Paraguay’s central bank took control of Ueno Bank after it failed to meet solvency requirements, leaving customers waiting for access to deposits. The crisis led to impeachment proceedings against Peña. He was removed from office on November 6 and succeeded by his vice-president, Pedro Alliana. On Monday, Congress approved a new central bank chief as prosecutors widened their inquiry to the bank’s brokerage arm, Reuters reported.
