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Venezuela said that the former president of the National Securities Commission was arrested because of financial crimes. According to the Prosecutor’s Office, Antonio Marques is charged with complicity in misappropriating the funds.
Seven of the banks which were closed hold about eight percents of the Venezuela deposits. The president of Venezuela, Hugo Chavez said he shut down the seven banks because he wanted to remove all the corruptions and protect the depositors.
On Friday, the government has closed down another bank because they cannot cover the short term obligations.
Venezuela newspaper El Correo del Orinico reported that Antonio Marques stepped down as president of the commission on Tuesday. A new president, Tomas Sanchez is being chosen to replace Antonio Marques. Tomas Sanchez used to be a manager of the liquidation of Banco Canarias. Banco Canarias was shut down due to irregularities in capital increases.
The Prosecutor’s Office also told the reporters that the government had seized 9 suspects and stopped 15 others from leaving the country in cases that are related to the seven banks.
