Caterpillar offices raided by feds

Three of construction equipment manufacturer Caterpillar's central Illinois facilities were raided Thursday by federal law enforcement officials.

The probe may be related to business with its Swiss subsidiary CSARL, company officials said.

"We believe the execution of this search warrant is regarding, among other things, export filings that relate to the CSARL matter," Caterpillar officials said in a statement.

In 2014, a report by U.S. Senate Democratic staff alleged Caterpillar avoided $2.4 billion in U.S. taxes by shifting profits to a wholly-controlled affiliate in Switzerland.

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