Venezuela seizes nearly 4M toys, will give them to poor kids
BOGOTA, Colombia — Venezuela’s socialist government has seized nearly 4 million toys from a private company and says it intends to hand them out as Christmas gifts to poor children this holiday season.
The country’s fair pricing authority seized the toys from three warehouses run by Kreisel, Venezuela’s largest toy distributor, on Friday. Two company executives were detained on suspicion of promoting price speculation.
Agency director William Contreras alleged that Kreisel underreported its inventory in order to sell some toys at higher prices.