Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Law Enforcement Officials Searching Caterpillar Offices
Journal Star ^ | 3-2-2017 | Chris Kaergard

Posted on 03/02/2017 9:51:15 AM PST by blam

PEORIA — Federal officials executed a search warrant at three Caterpillar, Inc. facilities in the Tri-County Area — including the corporate headquarters — Thursday morning.

Company officials confirmed the presence in a statement without specifying which agency was performing the search or what the search was in regard to. A spokeswoman declined by email to provide further details.

"Caterpillar is cooperating," the brief statement said.

The spokeswoman for the U.S. Attorney for the Central District of Illinois confirmed that facilities in three communities were the subject of the activity — Peoria, East Peoria and Morton.

At the Downtown Caterpillar global headquarters building, at least some company employees were directed to the building's cafeteria and were told to remain there and not leave, according to one employee at the facility. Another source with direct knowledge indicated those sequestered there include employees in the tax and accounting divisions, as well as from executive offices. At least some of those employees were released to go home for the day at approximately 11 a.m.

(snip)

(Excerpt) Read more at pjstar.com ...


TOPICS: News/Current Events
KEYWORDS: cat; caterpillar; investing; stocks
Navigation: use the links below to view more comments.
first previous 1-2021-37 last
To: bigbob

once sign says commerce
one sign says FDIC and
one sign says “Federal Agent” and that looks like my grandkid made it

Back of one guy’s jacket says IRS


21 posted on 03/02/2017 10:24:13 AM PST by stylin19a (Terrorists - "just because you don't see them doesn't mean they aren't there")
[ Post Reply | Private Reply | To 12 | View Replies]

To: jettester

Foreign corrupt practices....... bribing government officials

My guess there might be a record of what is a bribe


22 posted on 03/02/2017 10:26:48 AM PST by bert (K.E.; N.P.; GOPc;WASP .... Hillary is Ameritrash, pass it on)
[ Post Reply | Private Reply | To 7 | View Replies]

To: bert

Saw a report that large amount of funds spent under 0bama’s stimulus program went to purchase heavy equipment that was sent overseas, including South America, given, not sold to the foreign countries.

Money that was supposed to go for improving US infrastructure (shovel ready jobs?) was instead sent overseas in the form of heavy equipment.

Perhaps this raid is related?


23 posted on 03/02/2017 10:39:57 AM PST by wrench
[ Post Reply | Private Reply | To 22 | View Replies]

To: blam

Perhaps it’s as simple as more of the Obama Holdovers taking revenge for Cat supporting Trump during the Campaign....


24 posted on 03/02/2017 10:49:37 AM PST by VRWCarea51 (The Original 1998 Version)
[ Post Reply | Private Reply | To 1 | View Replies]

To: wrench

Thanks for the best reply yet to this thread.

Saw a report that large amount of funds spent under 0bama’s stimulus program went to purchase heavy equipment that was sent overseas, including South America, given, not sold to the foreign countries.

Money that was supposed to go for improving US infrastructure (shovel ready jobs?) was instead sent overseas in the form of heavy equipment.

Perhaps this raid is related?


25 posted on 03/02/2017 10:49:47 AM PST by Grampa Dave (We are winning every day, while the Dems and Never Trumpsters are whining every day!!!)
[ Post Reply | Private Reply | To 23 | View Replies]

To: bert

My guess there might be a record of what is a bribe!

Yes, what is/was a real bribe not some figment or brain fart in Schumer’s deseased ridden blame.

Maybe the investigation goes back to over 8 years ago when Illinois had a junior $inator who got promoted past his abilitiesl by gullible guilt ridden Americans!


26 posted on 03/02/2017 10:55:33 AM PST by Grampa Dave (We are winning every day, while the Dems and Never Trumpsters are whining every day!!!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: jettester

That was my first reaction. Cheap labor express. We’ll see I guess.


27 posted on 03/02/2017 11:04:50 AM PST by virgil (The evil that men do lives after them.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: wrench

If that’s true, o boy. Somebody is in for it. Big time misappropriation.


28 posted on 03/02/2017 11:08:25 AM PST by virgil (The evil that men do lives after them.)
[ Post Reply | Private Reply | To 23 | View Replies]

To: virgil

URBANA, Ill. (WEEK) — -
Law enforcement are searching Peoria-area Caterpillar facilities seeking any documents related to the company’s business in Switzerland, 25 News has exclusively learned.

25 News obtained the search warrant that allows law enforcement to search Caterpillar’s headquarters building in downtown Peoria, the Morton logistics center, and Caterpillar Building AD in East Peoria.

The warrant signed by Judge Harold J. Baker out of the Central District of Illinois in Urbana authorize law enforcement to seize any documents related to the movement of Caterpillar products between the U.S. and Switzerland, any documents related to sales outside the U.S., and a variety of documents related to Cat’s Swiss subsidiary, CSARL.

A Senate hearing in 2014 investigated Caterpillar’s alleged shifting of profits on foreign sales to CSARL. Media reports at the time said Caterpillar paid an effective tax rate of 4 to 6 percent on profits in Switzerland, versus 35 percent in the U.S. The Internal Revenue Service launched an investigation into the alleged practices.

The law enforcement agencies are also seeking information from computer equipment and other electronic devices.
http://www.week.com/story/34650345/exclusive-law-enforcement-searching-for-docs-related-to-cats-swiss-business


29 posted on 03/02/2017 11:09:12 AM PST by janetjanet998
[ Post Reply | Private Reply | To 28 | View Replies]

To: janetjanet998

As Trumps says, we need lower tax rates. Second of all, larger corporations usually get away with this kind of thing, while the small guys pay the higher tax.


30 posted on 03/02/2017 11:16:32 AM PST by Moonman62 (Make America Great Again!)
[ Post Reply | Private Reply | To 29 | View Replies]

To: janetjanet998

background

Caterpillar’s Swiss unit dodged $2.4 billion of U.S. taxes: Senate panel
Caterpillar Inc avoided paying $2.4 billion in U.S. taxes from 2000 through 2012 by moving profits from sales of replacement parts through a low-tax unit it set up in Switzerland, a congressional panel said on Monday.

In the latest example of a major U.S. corporation’s offshore tax strategies going under the congressional microscope, the Senate Permanent Subcommittee on Investigations issued a report focused on a complex 1999 restructuring by Caterpillar.

The world’s largest mining and construction equipment maker’s restructuring negotiated a low tax rate with Switzerland for a unit it set up there to book taxable profits from sales of Caterpillar-branded replacement parts made by third parties under contract with the Peoria, Illinois-based company.

“This is a prime example of a tax avoidance strategy, which is costing the U.S. Treasury billions of dollars,” said Senator Carl Levin, the Democratic chairman of the subcommittee, which has a hearing scheduled for Tuesday on the report’s findings.

Caterpillar makes no replacement parts and has no warehouses in Switzerland, but 85 percent of its parts business’s profits went through the Swiss unit, where the company pays a tax rate of between 4 percent and 6 percent, the subcommittee said.

http://www.reuters.com/article/us-usa-tax-caterpillar-idUSBREA2U1P720140331


31 posted on 03/02/2017 11:16:48 AM PST by janetjanet998
[ Post Reply | Private Reply | To 29 | View Replies]

To: Moonman62

This is old news....

Someone may have tipped them off pissed about the move out of Peoria with new info?


32 posted on 03/02/2017 11:18:17 AM PST by janetjanet998
[ Post Reply | Private Reply | To 30 | View Replies]

To: Mr. K

I understand this is very off message there Mr. K, BUT.
What ever happened to ALL the security video’s that the Feds confiscated from Oklahoma City the morning of the Murrah Building explosion???
Something in those they don’t care to share???


33 posted on 03/02/2017 11:27:01 AM PST by Joe Boucher (President Trump makes obammy look like the punk he is.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: virgil

I have only seen one report about this, but there would be a huge paper trail if it is true.


34 posted on 03/02/2017 11:39:00 AM PST by wrench
[ Post Reply | Private Reply | To 28 | View Replies]

To: janetjanet998

This make sense.

I have tried sourcing heavy equipment parts lately, and am unable to find much in the US. No problems finding parts overseas, though. Parts for large tractors, industrial diesel engines and bull dozers.


35 posted on 03/02/2017 11:43:52 AM PST by wrench
[ Post Reply | Private Reply | To 31 | View Replies]

To: blam
More on the Cat situation...

Caterpillar headquarters raided by Federal agents

More details on where searches took place.

36 posted on 03/02/2017 12:50:58 PM PST by mewzilla (I'll vote for the first guy who promises to mail in his SOTU addresses.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: blam
Looking like tax issues...?

Federal agents raid Caterpillar HQ as part of investigation; stock tumbles

37 posted on 03/02/2017 5:22:16 PM PST by mewzilla (I'll vote for the first guy who promises to mail in his SOTU addresses.)
[ Post Reply | Private Reply | To 1 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-37 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson