{"id":18695,"date":"2026-11-11T09:00:00","date_gmt":"2026-11-11T14:00:00","guid":{"rendered":"https:\/\/expat-times.com\/panama\/?p=18695"},"modified":"2026-11-10T19:01:43","modified_gmt":"2026-11-11T00:01:43","slug":"show-me-the-money-paraguay-banking-scandal-reaches-panama-workers-left-unpaid","status":"publish","type":"post","link":"https:\/\/expat-times.com\/panama\/business-economy\/show-me-the-money-paraguay-banking-scandal-reaches-panama-workers-left-unpaid\/","title":{"rendered":"Show me the Money! Paraguay Banking Scandal Reaches Panama, Workers Left Unpaid"},"content":{"rendered":"\n

The Paraguay banking scandal has reached Panamanian shores, with employees in Panama among roughly 7,000 workers directly affected by the collapse of companies linked to Ueno Bank<\/a>, Paraguayan Labor Minister<\/a> M\u00f3nica Recalde confirmed Tuesday.<\/p>\n\n\n\n

Recalde told Universo 970 AM that she has received communications from workers in Panama<\/a>, Nicaragua, Argentina, and Mexico who provided services to Itti, a Paraguayan technology firm, while receiving salaries from Paraguay. The revelation marks the first official confirmation that the crisis extends beyond Paraguay’s borders into the regional workforce<\/a>.<\/p>\n\n\n\n

\"As
The Paraguay banking scandal has reached Panamanian shores, with employees in Panama among roughl directly affected by the collapse of companies linked to Ueno Bank<\/a>.<\/figcaption><\/figure>\n\n\n\n

Paraguay Banking Scandal<\/a> Expands Across Borders<\/h2>\n\n\n\n

The affected workers performed technology and IT support services for companies tied to the banking group<\/a> from their home countries. Recalde clarified that these employees remain subject to their respective national labor laws, though their employment relationships were anchored to the Paraguayan corporate structure.<\/p>\n\n\n\n

Itti, founded in 2004 and owned by Grupo V\u00e1zquez, develops software and digital solutions for financial and corporate clients. The company sits within a complex business network of approximately 40 firms that provided various services to Ueno Bank.<\/p>\n\n\n\n

The minister’s updated government estimate puts the total affected workforce at 7,000, including bank employees, workers at linked companies, and non-banking correspondent staff. Around 6,000 of those workers were based in Paraguay, with the remainder tied to international operations.<\/p>\n\n\n\n

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Una publicaci\u00f3n compartida por La Estrella de Panam\u00e1 (@laestrellaonline)<\/a><\/p><\/div><\/blockquote>\n