Local News

SEC Investigating Loan Guarantee To Schilling Company

View Comments
Curt Schilling (credit: Taylor Hill/Getty Images)

Curt Schilling (credit: Taylor Hill/Getty Images)

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

Sports Fan Insider

Keep up with your favorite teams and athletes with daily updates.
Sign Up

PROVIDENCE, R.I. (AP) _ A spokeswoman for the Rhode Island Economic Development Corp. says the federal Securities and Exchange Commission is investigating the state’s $75 million loan guarantee to 38 Studios, Curt Schilling’s failed video-game company.

Spokesman Melissa Czerwein said Tuesday that the economic development agency hired a law firm to help handle inquiries from the SEC over five months starting last fall.

She says the agency paid more than $100,000 to the firm.

The Providence Journal reports (http://bit.ly/17Z7DXI ) that Czerwein would not provide details about what the SEC may be looking for.

She says the state is maintaining confidentiality at the SEC’s request.

38 Studios went bankrupt in May 2012 and the state is on the hook for about $90 million related to the deal, which was financed with bonds.
(© Copyright 2013 The Associated Press. All Rights Reserved.)

View Comments
blog comments powered by Disqus
Follow

Get every new post delivered to your Inbox.

Join 845 other followers