Tuesday, October 16, 2007

Cisco Offices Rraided, Executives Arrested in Brazil

Jim Duffy writes on NetworkWorld:

Senior executives of Cisco were reportedly arrested in Brazil this week in a tax fraud investigation of the company.

Citing information from police and tax authorities, Reuters reported that Cisco's Brazilian unit had imported $500 million worth of telecommunications and network equipment over the last five years without properly paying import duties. In all, the company owes an estimated $826.4 million in taxes, fines and interest, Reuters reported.

More here.


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