Paraguay Bank That Left 3M Without Access to Savings Sponsored Far-Right Gala at Trump's Mar-a-Lago With Eduardo Bolsonaro

A Paraguayan bank that left around three million customers unable to access their savings after its collapse was among the major sponsors of a far-right political gala held at US President Donald Trump's Mar-a-Lago resort in Florida, where Brazilian politician Eduardo Bolsonaro was a prominent guest.

Ueno Bank was listed as one of six Diamond Sponsors of the Hispanic Prosperity Gala 2026, held on 10th February at Trump's private club in Palm Beach, Florida. The event brought together political figures and supporters of conservative causes, including Eduardo Bolsonaro, son of former Brazilian president Jair Bolsonaro, according to ABC Color.

The sponsorship has resurfaced following the bank's dramatic collapse and the resignation offer from Paraguayan President Santiago Peña on 5th November, amid a financial and political crisis that triggered major protests across the country.

Ueno Bank Among Six Top-Tier Gala Sponsors

Ueno Bank was reportedly listed alongside just five other companies in the gala's Diamond Sponsor category, the highest sponsorship tier, which carried an advertised value of $100,000.

Latino Wall Street, the organisation behind the gala, also publicly announced Ueno Bank's participation on social media on 3rd February, describing it as an official sponsor of the inaugural event.

The organisation praised the lender as Paraguay's first fully digital bank and highlighted its customer base and financial services. The event reportedly promoted conservative values and the Hispanic community's participation in US politics. Its stated objectives included supporting freedom of expression, financial freedom, and conservative principles.

Eduardo Bolsonaro attended the gathering, while Argentine President Javier Milei, who was listed as a principal speaker and guest of honour, participated through a recorded video message rather than appearing in person.

Why Ueno's Collapse Led to Peña's Resignation Offer

The country's central bank placed the Ueno into resolution following an investigation that found its solvency ratio had fallen below half the legally required minimum. Frozen deposits reportedly left hundreds of thousands of families without access to money for everyday expenses.

Ueno had rapidly expanded after receiving authorisation to operate as a bank in 2023, during Peña's presidency. It became one of Paraguay's largest lenders, claiming approximately 60% of the adult population as customers. The bank also accumulated substantial public-sector deposits. It managed between $800 million and $850 million in deposits from government and pension institutions.

Peña had previously held a stake in Grupo Vázquez, an entity connected to Ueno's business structure, before selling his shares in March 2025. He faced accusations of conflicts of interest and inadequate oversight of the lender, which he denied. Note that Ueno Bank's principal shareholder was Grupo Vázquez.

The crisis ultimately triggered a political revolt against Peña. On 5th November, lawmakers unanimously backed impeachment proceedings against him as people protested on the streets.

Peña subsequently announced his resignation, saying his priority was to restore confidence in the financial system and ensure depositors could recover their money. However, both chambers of Congress declined to accept his resignation, with impeachment proceedings continuing.

In all, the potential connection between Ueno Bank and the Mar-a-Lago gala now adds another international dimension to the controversy surrounding the failed lender, its political connections, and the public money it managed.