Venezuelan authorities seize Christmas toys and distribute them to the poor

Armed soldiers raided the toy distributor’s warehouses

BBC – Venezuelan authorities have arrested two toy company executives and seized almost four million toys, which they say they will distribute to the poor.

Officials accused the company of hoarding toys and hiking prices in the run-up to Christmas.

Last week, the government issued an order to retailers to reduce prices on a range of goods by 30%.

Business owners say the order is a populist political move, and pushing them towards bankruptcy.

Venezuela’s consumer protection agency, Sundde, said toy distributor Kreisel had stockpiled the goods and was reselling them at a margin of up to 50,000%.

“Our children are sacred, we will not let them rob you of Christmas,” it said in a tweet, along with photos and video of thousands of boxes of toys.

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