Arizona inquiry finds no crime in $50 million Gilbert land deal

Attorney General Tom Horne's office has found no criminal activity after a 10-month investigation into Gilbert's $50.2 million purchase of future parkland without a qualified appraisal. The land deal that sparked a fierce controversy over its above-market purchase price and was considered a factor in the ouster of three incumbent Town Council members in last year's election. In a letter sent to town officials last week, Assistant Attorney General Todd Larson said investigators found no wrongdoing in the purchase and will not prosecute anyone. The investigation sprang from an Arizona Republic report on the land deal that cited southeast Valley real-estate experts who agreed the $300,000-per-acre purchase price was "out of tune" with market conditions when the deal was approved in early 2009. Gilbert bought the land from dairy farmer Bernard Zinke, intending to use 142.5 acres of undeveloped farmland for two municipal parks in an underserved area of south Gilbert, officials said.

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