Former Paraguayan President Santiago Peña has been removed from office and arrested. Among other allegations, he is accused of trying to protect a digital bank he formerly held ownership in. Authorities this week ordered it into insolvency, leaving millions of citizens without access to their accounts.

Lawmakers accused Peña of using his political influence to steer hundreds of millions of dollars in public funds into Ueno while regulators overlooked risky insider lending. Peña has denied wrongdoing.