NEW: Feds No Longer Investigating 38 Studios
Friday, September 28, 2012
The U.S. Attorney’s office has ended its investigation into Curt Schilling’s 38 Studios, according to a report from the Associated Press.
Schilling’s company received a $75 million loan guarantee from the state’s Economic Development Corporation (EDC) over two years ago, but was unable to secure additional financing and fell on hard times late last year.
In January, Michael Corso, the state’s top tax credit broker pledged over $14 million in tax credits that were never issued by the state to secure an $8.5 million loan from BankRI. U.S. Attorney Peter Neronha’s spokesman Jim Martin said the office conducted a “very narrow and focused review” to determine whether any federal laws were broken, including bank fraud.
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- Carcieri Accepts Responsibility for Approving Failed 38 Studios Deal
- INVESTIGATION: Secret Documents Reveal True Risks of 38 Studios
- Insider Lawyer Paid $232,000 as 38 Studios Went Belly Up
- Future Remains Uncertain for Schilling’s 38 Studios
- Insiders Had Hands All Over Schilling’s 38 Studios Deal
- Is Curt Schilling’s 38 Studios Going Broke?
- Lawmakers Feel Duped by Schilling’s 38 Studios Deal
- NEW: Schilling’s 38 Studios is Bankrupt
- Schilling’s 38 Studios Lays Off Entire Staff—Taxpayers May Be Stiffed
- Schilling has Invested ‘Majority of Money I’ve Earned in My Life’ in 38 Studios
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Comments:
Gary Arnold
8:59am on Monday, October 01, 2012
The smell of corruption from top to bottom in the state of RI is over powering.