Rick Renzi Raided By FBI; Steps Down From Congressional Committees
Rick Renzi, who is being investigated by the Arizona U.S. Attorney’s office for corruption charges moved a step closer to a courtroom as the FBI raided the offices of his wife’s real estate company. They were apparently searching for additional records relating to two land swap transactions that resulted in a $4 million payment to a Renzi business partner.
Rick Renzi, four term Republican congressman, is attracting early attention from potential Democratic opponents. Officers from the Pinal County Democrats met this past week with Howard Shanker, a Flagstaff attorney and Democrat who has launched a campaign to unseat Renzi.
The Wall Street Journal has a detailed story revealing, for the first time we have seen, the details behind Renzi’s schemes. Acccording to the article, Renzi was promoting a land swap for Resolution Mining Company of Superiior, Arizona. Renzi demanded that someone purchase a 480 acre alfalfa field in Sierra Vista for $4 million. It turns out that the field was owned in part by a his business partner and possibly through his wife’s real estate firm. Resolution Mining Company balked at the transaction because the land price was “too high.” Eventually though the alfalfa field was purchased by a secretive investment firm known as Petrified Forest Group. Soon thereafter, Congressman Renzi, inserted a rider to bill in the House Natural Resources Committee favoring the swap and granting it federal priority.
Click here to read the story in the Wall Street Journal.