Venezuela prosecutors target bank executives

A Venezuelan court has barred 16 bank executives from leaving the country after a scandal that led the government to take over management of four banks.

Prosecutors say those prohibited from traveling include six directors of Banco ProVivienda (BanPro), eight of Banco Confederado, and two of Bolivar Banco. Prosecutors say they also questioned the ex-president of Banco Canarias, Alvaro Gorrin, on Friday as part of their investigation.

The government intervened in the four banks last week, citing various irregularities. Major shareholder Ricardo Fernandez and his lawyer Jose Camacho have been arrested on charges of misappropriating deposits and providing loans to other businesses in which they were investors.

Source: businessweek.com/