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.
38 Studios received a $75 million loan guarantee from the EDC.
The 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].
- Insider Lawyer Paid $232,000 as 38 Studios Went Belly Up
- INVESTIGATION: Secret Documents Reveal True Risks of 38 Studios
- Insiders Had Hands All Over Schilling’s 38 Studios Deal
- Lawmakers Feel Duped by Schilling’s 38 Studios Deal
- Schilling Claimed 38 Studios Would Create Over 1,500 Jobs
- 38 Studios Insiders Have Been Connected Since May 2009
- Schilling has Invested ‘Majority of Money I’ve Earned in My Life’ in 38 Studios
- EDC Never Discussed 38 Studios After September 2010