GoKawiilParaguay's Ueno Bank seized by regulators; executives arrested, president resigns
Paraguay's central bank took control of digital lender Ueno Bank after examiners found poorly documented insider loans and misclassified assets that left its capital below half the legal minimum, cutting off roughly 3 million customers from banking services. Prosecutors have charged 27 bank officials and associates with fraud-related offenses, and a judge ordered six executives, including founder Miguel Vázquez and president Juan Manuel Gustale, jailed pending trial, while two others were placed under house arrest. Paraguay's president has since stepped down amid the fallout.