Caterpillar Raid 2017: Federal law enforcement executes search warrant on Illinois offices

Caterpillar Raid 2017: Federal law enforcement executes search warrant on Illinois offices
Source: AP
Source: AP

Federal law enforcement officials on Thursday raided the Illinois offices of Caterpillar, Inc., Reuters reported. The IRS, the U.S. Department of Commerce, and agents from other federal departments were present, according to MarketWatch

The reason for the federal raid wasn't immediately clear, but was presumably related to an investigation into the company's tax strategy, according to the Peoria Journal Star. Caterpillar, Inc. — which makes heavy machinery used in farming and construction, among other industries  — revealed in a regulatory filing last month that it had been subpoenaed for "documents and information from the Company relating to, among other things, financial information concerning U.S. and non-U.S. Caterpillar subsidiaries," a statement from Caterpillar, included in its filing, noted, the Journal Star reported.