March 8 (UPI) -- A report commissioned by the U.S. government accuses construction equipment company Caterpillar of tax and accounting fraud.
"Caterpillar did not comply with either U.S. tax law or U.S. financial reporting rules. I believe that the company's noncompliance with these rules was deliberate and primarily with the intention of maintaining a higher share price. These actions were fraudulent rather than negligent," Dartmouth College accounting professor Leslie Robinson said in the report, The New York Times reported Tuesday. While it is not clear which agency of the government commissioned the 84-page report, Robinson wrote in the report that it is related to the Federal Deposit Insurance Corporation Office of Inspector General's investigation of the company.