Federal law enforcement raids Caterpillar facilities

Federal law enforcement officials raided three central Illinois facilities of manufacturer Caterpillar on Thursday as part of an investigation the company said may be related to business with its Swiss subsidiary CSARL.

Officials from three federal agencies, some wearing jackets that said “police, federal agent”, searched the Peoria, Illinois, headquarters of Caterpillar, one of the world’s largest makers of construction and other heavy equipment. Facilities in East Peoria and Morton, Illinois, also were raided under a federal warrant, U.S. Attorney’s office spokeswoman Sharon Paul said.

“We believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter,” Caterpillar said in a statement later on Thursday, referring to its Swiss subsidiary.

Caterpillar spokeswoman Corrie Heck Scott said in an email that the company was cooperating with law enforcement.

Paul said the agencies involved included the Internal Revenue Service’s criminal investigation unit, the U.S. Department of Commerce Office of Export Enforcement and the Federal Deposit Insurance Corp.’s Office of Inspector General. She declined to comment further on the details of the investigation.

The exact reason for the raid was unclear, but Caterpillar told the Securities and Exchange Commission in a filing last month that the IRS had notified the company it owed $2 billion more in taxes for the years 2010 to 2012 because of profits from its Swiss unit. Caterpillar said it would “vigorously contest” the tax bill.

(AP)

 
 
 
 
 

Foxconn announces $10 billion manufacturing plant in Wisconsin

Foxconn announces $10 billion manufacturing plant in Wisconsin
Taiwanese electronics manufacturer Foxconn on Wednesday announced plans to build a $10 billion LCD display panel screen plant ...
READ MORE >
 

Chinese Regime Cracks Down on Internet Access, but Users Resist

Chinese Regime Cracks Down on Internet Access, but Users Resist
The Chinese regime is now seeking to shut down the programs that have kept open a window to ...
READ MORE >
 

China strengthens defenses on North Korea border in anticipation of crisis

China strengthens defenses on North Korea border in anticipation of crisis
China is preparing for a potential crisis with North Korea, bolstering its defenses along their shared border by creating ...
READ MORE >
 
US

California has issued nearly 1 million drivers licenses for illegal immigrants this year

California has issued nearly 1 million drivers licenses for illegal immigrants this year
In the state of California, nearly 1 million illegal aliens could obtain drivers licenses this year after the state passed a law a ...
READ MORE >
 

79-year-old Alzheimer patient’s love for music and singing always bring his memory back!

79-year-old Alzheimer patient’s love for music and singing always bring his memory back!
In an absolutely dramatic turn of events, as if a scene is borrowed out of a movie, a ...
READ MORE >