PhoenixMart takes ‘suspicious’ investment group to court

By Kevin Reagan | Casa Grande Dispatch

PhoenixMart developers are attempting to recoup money the company gave to a real estate investment group in a $115-million deal that fell through.

According to court documents recently filed in Maricopa County Superior Court, developers of the “global product marketplace” under construction near Casa Grande want to be paid back $25,000 for services they say were never done.

PhoenixMart claims it paid Whitlock Capital Group, based in Minnesota, the $25,000 last year to help secure a large investment from a sovereign fund in Abu Dhabi. Whitlock representatives allegedly told PhoenixMart they represented an overseas fund looking to invest hundreds of millions of dollars in the United States by the end of 2018.

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