THE WORLDPOST
11/14/2013 07:58 pm ET Updated Jan 23, 2014

Venezuela Arrests 100 'Bourgeois' Businessmen In Crackdown, Maduro Says

LEO RAMIREZ via Getty Images

CARACAS, Nov 14 (Reuters) - Venezuelan President Nicolas Maduro said on Thursday that authorities had arrested more than 100 "bourgeois" businessmen in a crackdown on alleged price-gouging since the weekend.

"We have more than 100 of the bourgeoisie behind bars at the moment," Maduro said in a speech to the nation.

The socialist leader, who won a vote to replace the late Hugo Chavez in April, said his government was preparing new regulations to limit businesses' profits to between 15 percent and 30 percent. Authorities say unscrupulous companies have been hiking prices of electronics and other goods more than 1,000 percent. (Reporting by Andrew Cawthorne and Deisy Buitrago; Editing by Bill Trott)

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