Argentina to seize outsourced, scandalized printer

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Associated Press

Posted on August 7, 2012 at 6:01 PM

Updated Tuesday, Aug 7 at 9:01 PM

BUENOS AIRES, Argentina (AP) — Argentina is planning another government takeover, this time expropriating a company that is printing the nation's pesos despite an influence-peddling scandal involving the vice president and the tax chief.

President Cristina Fernandez's decree Tuesday puts her economy minister and president of the mint in charge of the expropriation of Company of South American Values and the cancellation of its debts. The printer is currently owned by a shadowy shell company with alleged ties to Vice President Amado Boudou.

An Argentine federal judge is considering criminal charges against Boudou as well as tax chief Ricardo Etchegaray for allegedly steering the company into the control of secret financial interests before it was picked to print the currency.

The expropriation must be approved by Congress.

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