About Our People Legal Stuff Careers
Presents (Pexels)
Presents (Pexels)

Venezuela confiscated millions of toys, then said it would sell them to poor kids


They say we're stealing the toys from this company, but the company committed fraud against our community.
William Contreras, Venezuelan government

It sounds like a Grinch move to some.

Venezuelan officials seized 4.8 million toys from distributor Kreisel-Venezuela, which it accused of price-gouging. The government said it would sell the toys at reduced prices to lower-income families, CNN reports.

But the move still sparked backlash. Some called President Nicolás Maduro a "grinch."

One user said Maduro was "worse than the Grinch."

Government officials claim Kriesel was trying to sell the toys at 25,000 percent profit after buying them in 2008.

In Venezuela's socialist system, toy prices are fixed and strictly regulated.

2016 has been brutal in Venezuela, with staggering 500 percent inflation devastating the economy and crippling hospitals.

Some critics thought the seizure had ulterior motives.

The Associated Press contributed to this report.

Read Comments
Facebook Twitter Instagram Pinterest Linked In List Menu Enlarge Gallery Info Menu Close Angle Down Angle Up Angle Left Angle Right Grid Grid Play Align Left Search Youtube Mail Mail Angle Down Bookmark