Millions of Toys Confiscated From Kreisel Company in Venezuela

Almost 4 million toys were confiscated from Kreisel, one of Venezuela’s leading distributors, for hiking up prices and hoarding products, the National Superintendence for the Defense of Socioeconomic Rights (SUNDDE) said.

MEXICO CITY (Sputnik) – Almost four million toys have been confiscated, SUNDDE said on Twitter, adding that the company is abusing its market position and that its speculative profit margin is estimated at between 16.9 and 57.4 percent.

#EnFotos Alrededor de 4 Millones de juguetes acaparados por Kreisel en Caracas. pic.twitter.com/ZEncfrLq8Y

— Sundde (@sundde_ve) December 9, 2016

​The toys will now be sold by the Venezuelan government at lower prices.

According to SUNDDE, Kreisel has been hoarding toys since 2009.

Two of the company’s managers were arrested on Friday.