The PhoenixMart headquarters was raided by the Federal Bureau of Investigation on the morning of Nov. 19 in northeast Phoenix, Arizona.
FBI agents entered the building at 7:00 a.m. in what those close to the investigation said was a look into possible securities and investor fraud at the company.
Developers hoped that the multi-million-square-foot mixed-use project would have been a major economic asset for the Pinal County, Arizona, community. More than 500 acres were committed to the project, along with significant public improvements.
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