Paraguay’s President Forced Out Amid Massive Bank Scandal

Santiago Peña has been impeached and placed under house arrest following the collapse of a major bank that left thousands of people without their savings.

Paraguay is in a state of shock today. The country’s president, Santiago Peña, has been forced out of office. He is now under house arrest while officials look into a major banking scandal. The trouble started when Ueno Bank collapsed. This means the bank ran out of money and could not pay its customers. Millions of people who had their life savings in that bank suddenly found they could not get their money back. Many families have been left with nothing. Because of this, the government moved quickly to remove Peña from his job. This process is called impeachment. It is what happens when l…