Paraguay’s Ex-Central Bank Chief Surrenders
Carlos Carvallo, who led Paraguay's central bank until 3 November, surrendered to police on 6 November in the Ueno Bank case that hit US bond holders. The post Paraguay’s Ex-Central Bank Chief Surrenders appeared first on The Rio Times .
Carlos Carvallo, the former head of Paraguay's central bank, turned himself in to police on the night of November 6. The arrest order came after prosecutors sought his detention in the Ueno Bank case, which was linked to the bank's collapse that caused President Santiago Peña's removal from office on the same day. Carvallo, who had been leading the central bank since 2023, reported to the police investigations department with his lawyer after prosecutors ordered his detention.
The Ueno Bank, a rapidly growing digital bank in Paraguay, had taken over by the central bank following a solvency crisis. The bank had sold $350 million worth of five-year bonds to international investors in March, including under US laws. Prosecutors filed a criminal complaint against Carvallo and others, accusing them of breach of trust and other offenses.
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