NEW: Citizens Suing Schilling for $2.4 Million
Thursday, June 14, 2012
Citizens Bank is suing Curt Schilling for $2.4 million after the former Red Sox could not pay back funds loaned to him by the bank.
Schilling's video game company, 38 Studios, filed for bankruptcy last Thursday just over a month after the company defaulted on a $1.125 million payment due to the Economic Development Corporation (EDC)
38 Studios received a $75 million loan guarantee from the EDC.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe company estimates its assets are worth just $22 million and the company owes creditors more than $150 million.
The U.S. Attorney's office and the State Police are currently investigating and the Providence Journal reported this week that subpoenas have gone out to BankRI and the EDC.
Dan McGowan can be reached at [email protected].
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- Insider Lawyer Paid $232,000 as 38 Studios Went Belly Up
