Federal Search Of Caterpillar Facilities May Relate To Tax Evasion Allegations

[TexasTowelie]

Three of Caterpillar's facilities in Illinois — including its headquarters — were searched by federal agents on Thursday. The warrant specified a search for evidence of misleading reports related to the company's exports.

Peoria Public Radio reported, "In 2014, the U.S. Senate issued a report that may be related to today's ... search. The 99-page document was titled 'Caterpillar's Offshore Tax Strategy.' The report alleges Caterpillar used the subsidiary to avoid paying $2.4 billion in taxes over a period of 13 years," the member station reported.

Copies of the warrants for the three facilities as obtained by Peoria Public Radio indicate that while evidence pertaining to dealings of Caterpillar subsidiary CSARL in Switzerland was the focus of the search, agents were authorized to collect documents about Caterpillar's sales outside the U.S. and shipments to any other foreign country.

Some Caterpillar employees were interviewed by authorities, according to Peoria Public Radio.

Read more: http://hawaiipublicradio.org/post/federal-agents-execute-search-warrant-caterpillar-facilities-illinois

[littlemissmartypants]

1. I was wondering what all the

Hullabaloo was about. Thanks, Texas Towelie. ♡

[TexasTowelie]

2. You're welcome.

I always thought of Caterpillar as an all-American company. It will certainly tarnish their reputation if tax evasion charges are proven.

Was there something that happened in North Carolina that caught your attention that isn't in the article?

[littlemissmartypants]

3. Nothing but some chatter by friends that deal in heavy equipment.

It will be interesting to see how it shakes out.