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HomeIllinois NewsFederal officials search Caterpillar's Illinois facilities

Federal officials search Caterpillar’s Illinois facilities




PEORIA – Peoria's Star Journal reporters Chris Kaergard and Matt Buedel are on Thursday morning's breaking story about federal investigators entering three Caterpillar facilities in Peoria …  

Federal officials seized documents and electronic records from three Caterpillar Inc. facilities, including the global headquarters Downtown, on Thursday morning as an apparent part of a criminal investigation into the company's tax strategy.

Agents from an alphabet soup of federal agencies lined up outside the main administration building, a data center in East Peoria and the logistics center in Morton. Neither federal nor company officials would confirm the substance of the investigation.

"Caterpillar is cooperating," a brief statement from the company read.

The investigation appears to stem from revelations about the company's tax strategy as outlined in a 2009 federal wrongful termination lawsuit brought by Daniel Schlicksup. The lawsuit alleged the company shifted profits overseas and to offshore shell companies to avoid paying more than $2 billion in U.S. taxes. Schlicksup settled the suit in 2012.

Caterpillar, in its annual 10-K filing with the U.S. Securities and Exchange Commission last month, acknowledged a criminal investigation into the tax strategy.

More on the story HERE.


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