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Cat china fraud

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The construction company said it was able to sell off some of its fourth quarter glut, but inventory remains $1 billion above levels from a year ago.
Cat china fraud

Heavy Caterpillar machinery stands at Quinn Co. Caterpillar on Jan. 26, 2009, in City of Industry, Calif. The biggest international manufacturer of construction equipment, Caterpillar, posted sharply lower profits for 2012 due to weak demand among its dealers and a charge connected with accounting fraud at a Chinese subsidiary

David McNew