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.More here.
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.