| Submit your comments on this article |
| Caribbean-Latin America |
| Caracas liquidates 2 of seized private banks |
| 2009-12-01 |
| [Iran Press TV Latest] The Venezuelan government is intending to liquidate the assets of two of the four banks it has recently taken over. While the government will maintain the control of the Canarias and BanPro banks, as "they had been severely compromised," the Venezuelan Finance Minister Ali Rodriguez announced on Monday that the government will liquidate Bolivar Banco and Banco Confederado. Rodriguez said 92 percent of depositors at Banco Canarias and 97 percent at Banpro will get their money back, reported The Wall Street Journal. The owner of the banks Ricardo Fernandez Barrueco, was put behind bars last week on charges of illegally using depositors' money. He faces up to 10 years in prison. More than 70 percent of banks in the Latin American country are privately owned. The four banks in question are responsible for about 8.8 percent of banking activity in Venezuela, according to official figures. |
| Posted by:Fred |
| #2 Keep the best (for his buds). Issue the rest (for his minions). |
| Posted by: Procopius2k 2009-12-01 08:13 |
| #1 So, he's going to give out the "assets" to his best buds? |
| Posted by: tipover 2009-12-01 00:40 |