Cisco executives arrested in Brazil

[Judi Lynn]

Source: MSNBC

Cisco executives arrested in Brazil

By Jonathan Wheatley in São Paulo

Updated: 3:12 p.m. ET Oct. 17, 2007

Brazilian police have arrested 40 people including three acting senior executives and one former president in Brazil of Cisco Systems, the US technology giant, for alleged tax fraud and other crimes involving evasion of up to R$1.5bn ($800m) in import duties and other taxes.

The operation followed a two year investigation and involved 650 officials from police, tax authorities and the public prosecution service. Police said those arrested would be held for five days while agents investigated documents and other evidence seized from 93 locations in the states of São Paulo, Rio de Janeiro and Bahia.

An official at Cisco in São Paulo said employees were not authorised to comment and that the company would make a statement "in the next few days". News agencies quoted other Cisco officials saying the company was "trying to find out exactly what had happened and was cooperating with investigations".

Brazilian police have begun the process of asking US authoriites to arrest five Brazilian citizens in the US. A police official said the five did not work for Cisco.



Read more: http://www.msnbc.msn.com/id/21343314/

[PittPoliSci]

1. thank god someone's arresting our corporate criminals.

[KoKo]

2. Agree! A big Hand Clap to Brazil....If we can't get them...maybe Globilization will!

[superconnected]

3. haahhahah GOOOOD POST!!!!!!

[Pavulon]

6. Arrested for not paying someone

their cut would be a guess. Brazil has flexible customs practices..

[Rage for Order]

8. It's certainly refreshing

To see that people aren't jumping to a presumption of guilt without seeing all of the evidence presented. :eyes:

[PittPoliSci]

9. waaaaah!!!

i never said they were guilty.

[robinlynne]

4. I've never even heard of Brazil arresting people for corruption. It must have big some

BIGGGG corruption!

[Pavulon]

5. Having done business there

and having imported very expensive equipment I can tell you brazil is allows "creativity" on how duties are assessed.

The more creative you are the less time you product may spend in customs or the duty charged could vary wildly.

Blah, blah, blah, cisco will kick them down 800 mil like we buy a cup of coffee and all will be swept under the rug.

Been that way for a very long time.

[Xenotime]

7. Ha ha! make those rich exec fucks pay!

[Judi Lynn]

10. Cisco staff arrested in Brazil tax inquiry

October 18, 2007
Cisco staff arrested in Brazil tax inquiry
Suzy Jagger in New York

A number of Cisco Systems staff in Brazil, including senior executives, have been arrested after police and tax officials raided the technology company’s São Paulo and Rio de Janeiro offices.

Brazilian authorities also requested a number of arrest warrants in the United States and said that they expected that a two-year investigation into alleged tax evasion, worked on by 650 police officers and tax agents, would lead them to the Cisco Systems headquarters in San Jose, California.

The employees of Cisco, which is the world’s largest maker of computer equipment, have not been charged. Brazilian police would not disclose how many employees they had arrested, but the company said that it was “a small number”.

Brazil’s authorities suspect that a smuggling ring has operated within the country, run by a number of people, including employees at Cisco’s São Paolo office, in which they were able to evade import taxes and other levies estimated at $826 million (£405 million).

More:
http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article2681379.ece

[flying_wahini]

11. But this sounds bigger than just the everyday payola scam;

sounds like someone wants Cisco out of their hair, and
just throwing money at the problem isn't going to help this time.
or maybe I need to get some sleep.

[SyntaxError]

12. CCIE IS EASY WITH EZ-CCIE DUMPS...

ahem... nevermind.