Chevron Corportion

Venezuela takes charge of big bank, arrests 11 executives

Venezuela arrested 11 top officials from the country's largest private bank and announced that the state would intervene in the institution's activities at least temporarily to clean up purported illicit activity, officials said Thursday.

It was not clear whether the 90-day intervention would be a first step toward a full takeover of Banesco. It's the second round of arrests recently at a private interest following the detention of two Chevron employees.

Attorney General Tarek William Saab in a state TV broadcast announced that the Banesco executives had been detained following a "surgical" probe uncovering "irregularities" that devalued Venezuela's...

63°