Venezuelan authorities have seized 3,821,926 toys from two warehouses, and said they would be sold to the poor at low prices.
The officials have also arrested two toy company executives, who they accused of stockpiling toys and hiking prices as Christmas approaches.
The socialist country’s consumer protection agency, Sundde, claimed that toy distributor Kreisel had hoarded the goods and was reselling them at a profit margin of up to 50,000 percent.
In a tweet, along with photos and video of thousands of boxes of toys, Sundde said: “Our children are sacred, we will not let you rob them of Christmas.”
The agency also posted photos of the two executives being marched from the premises by a squad of heavily armed soldiers.
Head of Sundde, William Contreras, said Kreisel had claimed that the toys were old or discontinued.
The move follows a government order issued the previous week to retailers to reduce prices on a range of goods by 30 percent.
Business owners say the order is a populist political move, and is pushing them towards bankruptcy.