Mirza Akram, 37, of Everett, was arrested for investigation of arson by investigators from Everett police and the federal Bureau of Alcohol, Tobacco, Firearms and Explosives.
Investigators found a gas can and incendiary device inside the Continental Spices Cash and Carry store. In addition, white crosses and an anti-Arab message were found spray-painted inside, which initially led investigators to consider whether the fire was a hate crime.
However, the agencies said in a news release that investigators learned Akram allegedly was having financial difficulties with the business. They allege he burned the business to eliminate the losses and potentially recover money through an insurance claim. They allege Akram and an associate set the fire.
It was not immediately known late Thursday whether Akram had retained a lawyer.
The business sold groceries and spices from the Middle East.
