Initially they were planning to take action on May 25, a one-year anniversary of the May Revolution, but on Francia's advice decided to act sooner, without waiting for the arrival of troops led by Fulgencio Yegros.
In the evening of May 14, 1811, after the curfew had started, plotters led by Captain Pedro Juan Caballero went to the Governor's quarters located on the main square of Asuncion, where they were greeted by second lieutenant Mauricio Jose Troche, a supporter of plot, was on duty and in charge of the small garrison of 34 men from Curuguaty.
Governor's quarters became the center of the revolution; political prisoners were released, weapons prepared, security measures taken and emissaries sent to bring Fulgencio Yegros and Manuel Atanasio Cabañas to Asuncion.
At midnight Vicente Ignacio Iturbe presented Governor Velasco with demands from plotters led by Caballero, which could be summarized as follows: As Governor Bernardo de Velasco was reluctant to accept the conditions presented by plotters, additional revolutionary troops came to the square and settled eight cannons in front of the house of government; Vicente Ignacio Iturbe brought a new ultimatum, setting a short deadline for response.
Caballero, who was involved in the profitable yerba mate trade, was opposed to Francia's economic policies and together with Juan Manuel Gamarra and Jose Teodoro Fernandez created opposition group which unsuccessfully tried to get support of the Consul Fulgencio Yegros.
Francia learned about the plot from two slaves that denounced their master for making gunpowder and from a confession of a conspirator to his priest on Holy Week and arrests started.
He allegedly wrote a note on the wall of his cell: "I know that suicide is against the law of God and man, but the thirst of blood of the Tyrant of my homeland shall not be appeased with mine".