PhoenixMart is facing another controversy. A couple of weeks ago, the Phoenix Business Journal reported on an FBI raid and investigation.
Now, the paper said there are reports PhoenixMart’s parent company misled Chinese investors about the project’s potential risk. If it’s built, PhoenixMart would be part of a 500-acre multi-use development in Casa Grande, the anchor of which is an expo center containing showrooms that manufacturers and buyers can rent.
The development is funded by a program through U.S. Citizenship and Immigration Services known as EB5. Eric Jay Toll has been covering all of this for the Phoenix Business Journal, and said that plays a role in what’s been happening.
