Venezuela stiffens penalties for smuggling
- From: JAT <jat@xxxxxxxxx>
- Date: Tue, 28 Dec 2010 14:47:06 -0430
Venezuela stiffens penalties for smuggling
Associated Press, 12.28.10, 01:25 PM EST
CARACAS, Venezuela -- Venezuelan lawmakers have stiffened penalties for smuggling in an attempt to crack down on illicit sales of gasoline, minerals and other goods.
The revised law approved late Monday sets prison terms of 10 to 14 years for those caught trying to illegally spirit fuel, minerals or food out of the country.
Previously, such sentences were left to the discretion of authorities.
Venezuela's heavily subsidized gasoline is the cheapest in the world, and smuggling to neighboring Colombia has thrived.
President Hugo Chavez's government maintains price controls on many food items, providing an incentive for smugglers to sell them abroad.
Trafficking of illegally mined gold is also a problem.
The new law sets prison sentences of five to nine years for anyone caught reselling merchandise that has been seized by authorities - a change that targets corruption among police and other officials.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
http://www.forbes.com/feeds/ap/2010/12/28/general-lt-venezuela-smuggling_8226724.html?boxes=financechannelAP
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