Hidden armoured vault found in a Peña home built with Ueno Bank loans

Paraguayan authorities conducted a search at the former President Santiago Peña's residence in Ciervo Cuá, San Bernardino district, on Sunday. The residence, built with loans from Ueno Bank, contained a hidden armoured vault behind a false wall that could not be opened. The Prosecutor's Office confirmed the search, though the statement did not elaborate on the contents of the vault.

The vault featured a level 7 security system, requiring facial or iris recognition, a fingerprint, a PIN code, and security keys for access. Despite Peña no longer holding office, Presidential Escort Regiment members continued to guard the property. The house was constructed for approximately 7.7 billion guaraníes, equivalent to around US$1.3 million.

Peña received two simultaneous loans from Ueno Bank on May 13, 2024, totaling 3.548 billion guaraníes, or about US$600,000, with monthly installments amounting to nearly six times his salary. Prosecutors have estimated the total damage in the case at US$809.5 million. The search is part of a case where Peña was charged on Saturday with breach of trust, instigation, and self-serving administration, leading to his pre-trial detention.

Prosecutors allege that Ueno received significant deposits from public entities while granting irregular loans to companies affiliated with its owners, the Vázquez Group. Peña, a former shareholder in the bank's controlling group, maintains his innocence. Eight Ueno executives are currently in custody. President Pedro Alliana has ordered those affected by the bank's closure to avoid fines, late-payment charges, or interest accrued during the crisis, with nearly 1.2 million savers already recovering their deposits, totaling approximately US$158 million. Repayments will continue throughout the week.