NEW: Fung Demands Full Investigation of 38 Studios
Tuesday, June 10, 2014
Cranston Mayor and Rhode Island Gubernatorial candidate Allan Fung demanded full disclosure of the 38 Studios bond holders, denial of payment on outstanding bonds, and a full investigation of the 38 Studios deal in a press conference outside the State House today.
Fung Says No to Payments
“Despite the outcry against these payments, Governor Chafee and some members of the General Assembly refuse to waiver in their commitment to these bondholders,” said Fung. “I will continue to stand with the taxpayers of Rhode Island.”
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTFung maintains that there is not enough information available to justify using taxpayer dollars to pay back the 38 Studios bonds. Fung added that he plans to testify in support of legislation to deny the bond payments and to create an investigative commission.
“The only thing that is clear right now is that we don’t have all the facts. We have two bills in the House Finance Committee today that take positions intended to protect taxpayers – complete a full and thorough investigation and do not repay these bonds until we get to the bottom of this mess,” Fung said. “In addition, I am calling for a separate up or down vote on the specific provision within the state budget to repay the 38 Studios bonds. Rhode Islanders deserve to know where each and every member of the Rhode Island General Assembly stands on this question.”
Fung was joined at his press conference by Representative Michael Chippendale, who sponsored legislation aimed at denying the bond payments and opening an investigation. Chippendale’s proposal is scheduled today for consideration by the House Finance Committee.
Related Slideshow: Who Wants to Pay and Who Wants to Default on the 38 Studios’ Bonds
GoLocalProv showcases which Rhode Island politicians and organizations want to pay or default on the 38 Studios' Bonds.
Related Articles
- NEW: Speaker Mattiello in Favor of Paying Back 38 Studios Bonds
- Chippendale Blasts Criminal Investigation of Corso and 38 Studios
- West Warwick Fix and 38 Studios Bond Payment?
- 38 Studios: RI Financial Advisor’s Lawyer Gave Thousands in Political Donations to Elected Officials
- Rob Horowitz: Let’s Not Make the Bad 38 Studios Situation Even Worse
- RI’s Consultant on 38 Studios Has Big Democratic Ties
- Mayor Allan Fung Challenges Governor Chafee on 38 Studios
- Arthur Schaper: Game Over on 38 Studios
- Russ Moore: Ignore the Rating Agency’s 38 Studios Extortion
- NEW: Treasurer Candidate Almonte Calls on Legislature to Act on 38 Studios Now
- 38 Studios: Legislators Push to Sue Bond Ratings Agencies
- Clawback Suits Filed by 38 Studios Trustee
- Bill to Stop 38 Studios Bond Repayment Gets Surprise Hearing
- Michael Riley: 38 Studios Insider Trade and Municipal Fraud
- 38 Studios: Should the SEC Investigate?
- Does RI Have a Moral Obligation on 38 Studios?
- Protesters Oppose 38 Studios Bailout, Demand Accountability
- 38 Studios Legal Fees
- State Legal Fees for 38 Studios Near $1M