Who is Miguel Vázquez, founder of Ueno Bank
Graduated in journalism from the State University of Bahia. Has experience with newspapers JC Concursos, Folha de S.Paulo, and O Estado de S.Paulo. Was a reporter for the portals Datagro and Broto. Has been a reporter for Revista Oeste since March 2026.
TL;DR
- Federico Miguel Vázquez Villasanti, founder of Ueno Bank, was arrested on November 3rd.
- The Paraguayan Central Bank intervened in Ueno Bank due to capital insufficiency.
- The crisis led to the resignation of President Santiago Peña on November 5th.
- Ueno Bank grew rapidly after becoming a bank in 2023, reaching 3 million clients and $2.8 billion in deposits.
- Investigations found solvency below legal limits and over $146 million in irregular loans to related companies.
- Carlos Carvallo, president of the Central Bank, also resigned.
- A criminal investigation has been opened into fraudulent management and illicit enrichment.
- The Central Bank is working to compensate affected small savers.