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Venezuelan shuts 4 banks after takeover

Originally published: November 29, 2009 3:22 PM
Updated: November 30, 2009 10:11 AM
By The Associated Press  FABIOLA SANCHEZ (Associated Press Writer)

Quick Read4 banks shut by Venezuelan government in response to deepening scandal

Photos

CARACAS, Venezuela (AP) — Venezuela's government closed four banks on Monday, saying authorities detected major financial problems after taking over management due to irregularities.

Two of the banks, Canarias and ProVivienda (BanPro), will be permanently closed and their assets will be auctioned off, Finance Minister Ali Rodriguez said. Most deposits in those banks will be covered by the...

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