Story highlights The government says the company planned to sell them at inflated prices

Critics call it a "Grinch" move two weeks before Christmas

Caracas, Venezuela (CNN) Venezuelan officials have confiscated nearly 4 million toys from a toy distributor, accusing the company of planning to sell them at inflated prices during the Christmas season.

On Saturday, the government initially said it had confiscated 4.8 million toys. It revised the figure Sunday, putting it at 3.821 million.

Critics say the consumer protection agency, which targeted the toy warehouse this week, has become "the Grinch that stole Christmas" because many families won't be able to buy the confiscated toys for the holiday.

Agency head William Contreras disputed that, saying executives at toy distributor Kreisel-Venezuela, the largest of its kind in the country, "don't care about our children's right to have a merry Christmas."

Venezuelan President Nicolás Maduro is being called a Grinch after the government confiscated millions of toys over alleged price gouging.

He told reporters, "They say we're stealing the toys from this company, but the company committed fraud against our country."