Who is Miguel Vázquez, the "Paraguayan Vorcaro", founder of Ueno Bank
Founder of Ueno Bank, Miguel Vázquez built a financial empire in Paraguay before being arrested in an investigation into the bank.
TL;DR
- Miguel Vázquez, 36, founder of Ueno Bank, was arrested amid the bank's collapse.
- Ueno Bank served approximately 3 million clients and managed hundreds of millions in public funds.
- The bank's failure has caused a crisis in Paraguay, leading to protests and political repercussions.
- Vázquez aimed to build Paraguay's first unicorn and list a company on the NYSE.
- Authorities have seized luxury assets, including a yacht, aircraft, and high-end vehicles.
- Vázquez comes from a family with a history in finance and commerce, building upon his father's credit company, Credicentro.
- The bank's collapse is linked to suspected financial irregularities, including large loans to related companies.
- President Santiago Peña's government is under pressure, with public funds deposited in Ueno Bank increasing significantly during his term.