Cisco Executives Arrested In Brazil

Financial Times   |  Jonathan Wheatley, Kevin Allison   |   October 17, 2007 05:52 PM

Read More: Brazil, Cisco, Cisco Arrest, Tax Fraud, Breaking Business News
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Brazilian police have arrested 40 people including three acting senior executives and one former president of the Brazilian subsidiary of Cisco Systems, the US technology giant.

The arrests concern allegations of tax fraud and other offences involving non-payments of up to R$1.5bn ($830m) in duties.

The operation followed a two-year investigation and involved 650 officials from the police, tax authorities and public prosecutors.

Police said those arrested would be held for five days while agents investigated documents and other evidence seized under 93 search warrants served at locations in the states of São Paulo, Rio de Janeiro and Bahia, including the offices of Cisco's Brazilian subsidiary and the homes of senior executives.

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- realitytrumpsbull See Profile I'm a Fan of realitytrumpsbull permalink

No, no, say it isn't so, not a giant multinational international technology company
getting BUSTED for breaking the law! No! Say it isn't true! Tell em you didn't do it, Billy!
LOLOL

    Favorite    Flag as abusive Posted 01:59 PM on 10/19/2007
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