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Venezuela government takes over small bank

Venezuela government takes over small bank

The Venezuelan government says regulators have taken over a small bank due to irregularities.
The banking regulatory agency says it has intervened in the savings and loan Casa Propia and has ordered closed.
It is the 14th bank the government has taken over in the past year and a half due to financial troubles. Others have since reopened under state ownership.
Venezuelan Banking Association president Juan Carlos Escotet said Friday that the institution was apparently involved in "bad banking practices," including executives loaning themselves money.
The attorney general's office says executive Cesar Camejo Blanco was arrested at Caracas' airport this week as he was preparing to fly to Costa Rica.