November 15, 2026: Paraguayan prosecutors raided the private Latitude hangar at Silvio Pettirossi International Airport (ASU), Luque.
Latest aircraft targeted: Gulfstream IV business jet, US registration N7DK, reportedly registered to JET PAR LLC and allegedly linked to Grupo Vázquez.
November 6: Authorities seized two aircraft:
Beechcraft King Air 300 – ZP-DSA (registered to Ueno Bank).
Beechcraft Baron B55 – ZP-TLG (registered to Grupo Vázquez).
Wider asset seizures: Nine luxury vehicles and an Azimut yacht named Zeus were also secured.
Corporate investigation: Approximately 37 companies and 35 individuals have been identified in connection with the investigation.
International dimension: Luxembourg corporate documents received on November 13 are helping investigators trace overseas financial and ownership structures.
Investigation objective: Identify, trace and secure assets potentially connected to alleged financial irregularities involving Ueno Bank and associated companies.
Important clarification: The Gulfstream IV was reportedly targeted in the November 15 search. Its seizure and alleged connection to Grupo Vázquez should not be treated as conclusively established.
The investigation into the Ueno Bank case is increasingly focusing on aircraft, corporate ownership structures and high-value aviation assets, with a Gulfstream IV becoming the latest aircraft sought by Paraguayan authorities.
Paraguay's financial investigation has taken another significant turn, bringing private aviation under increased scrutiny. On Sunday, November 15, 2026, prosecutors Francisco Cabrera and Jorge Arce, accompanied by police personnel, conducted a search operation at the private Latitude hangar at Silvio Pettirossi International Airport (ASU), in Luque.
The operation was aimed at locating another aircraft allegedly connected to Grupo Vázquez, as investigators continue tracing assets potentially linked to the Ueno Bank case.
The aircraft reportedly sought was a Gulfstream IV business jet, registration N7DK, allegedly associated with the group's aviation interests. Its ownership and any connection to the investigated financial activities remain matters for the authorities to establish.
The November 15 search follows a series of asset-seizure operations conducted by Paraguay's Public Prosecutor's Office.
November 3, 2026 – Ueno Bank enters resolution proceedings
The Central Bank of Paraguay (BCP) formally initiated the bank's resolution process after identifying a critical deterioration in its solvency ratio, which had fallen below the legally required minimum. This triggered an extensive investigation into the bank's financial position, related companies and assets.
November 6 – Two aircraft seized
Authorities conducted operations at different airport hangars in Luque and seized two aircraft:
|
Aircraft |
Registration |
Registered owner |
|---|---|---|
|
Beechcraft King Air 300 (1984) |
ZP-DSA |
Ueno Bank S.A. |
|
Beechcraft B55 (1979) |
ZP-TLG |
Grupo Vázquez S.A.E. |
The aircraft were immobilised to preserve evidence and prevent further operations. Investigators also sought flight documentation, digital storage devices and other material that could help establish their connection to the investigated companies.
November 6 – Wider asset recovery operation
The investigation expanded beyond aircraft. Authorities also secured nine luxury vehicles, including high-end automobiles, and an Italian-built Azimut yacht named Zeus.
Prosecutors explained that the objective was to identify and secure assets that could potentially be subject to confiscation following the judicial proceedings.
November 9 – Investigation expands
The Public Prosecutor's Office disclosed that approximately 37 companies and 35 individuals had been identified in connection with the investigation.
Prosecutors outlined four priorities: establishing criminal responsibility, tracing assets, recovering potentially misappropriated funds and collecting evidence. They also indicated that further charges and asset-securing measures could follow.
November 13 – International financial investigation
The investigation extended overseas when Paraguay's Public Prosecutor's Office received six envelopes of documents from Luxembourg concerning U Holdings S.à r.l., a company established in September 2023 and described as a holding structure connected to Ueno and Grupo Vázquez.
The documents are expected to assist investigators in tracing corporate ownership and financial flows across international jurisdictions.
November 15 – Gulfstream IV targeted
The latest operation took place at the Latitude private hangar at Silvio Pettirossi International Airport.
Investigators were searching for a Gulfstream IV business jet bearing US registration N7DK, reportedly registered to JET PAR LLC and allegedly linked to Grupo Vázquez.
Local media reported that investigators surrounded the aircraft and removed various objects from it during the operation. The purpose was to locate, inventory and potentially immobilise the aircraft as part of the asset-tracing investigation. A definitive official confirmation of its seizure was not available in the reports reviewed.
Private aircraft can represent substantial financial assets, but establishing their beneficial ownership can be complicated by corporate structures, leasing arrangements and registrations in different jurisdictions.
In this investigation, authorities are examining aircraft registered to both the bank and companies allegedly associated with its wider corporate group.
The Gulfstream IV is particularly noteworthy because it represents a different category of aviation asset from the two previously seized Beechcraft aircraft.
The Gulfstream IV is a long-range business jet designed for executive and private transportation. Its appearance in the investigation illustrates why authorities are examining not only conventional corporate assets but also high-value private aviation holdings.
The investigation remains ongoing. Authorities are expected to continue examining aircraft ownership records, registration documents, maintenance records, flight logs and financial links between aviation companies and the wider corporate group.
Any eventual confiscation would depend on the legal proceedings and proof establishing the connection between the assets and the alleged offences.
The case also highlights the importance of international cooperation in tracing aircraft and other assets held through cross-border corporate structures.
Picture Courtesy: Noticias y Política Paraguay
