Caterpillar Goes From White House Kudos to Multi-Agency Raid
- IRS, FDIC and Commerce Department agents raid Illinois offices
- Shares rebound Friday as Jefferies sees profit outlook intact
Federal Agents Search Caterpillar Offices
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One week ago, Caterpillar Inc. was being praised by President Donald Trump for producing great bulldozers. “I love Caterpillar," Trump told company Chairman Doug Oberhelman at a meeting of manufacturing heads at the White House.
On Thursday, officials from the Commerce Department, Internal Revenue Service, Federal Deposit Insurance Corp. and Illinois State Police moved in and out of the company’s corporate headquarters in Peoria, Illinois, in a raid seeking evidence related to exports and a Swiss subsidiary as part of a criminal probe.