Rhode Island state officials announced Friday that there will be no criminal charges filed after a four-year investigation into a deal to finance 38 Studios, a failed video-game company created by former MLB star Curt Schilling. According to the law-enforcement report, “the quantity and qualify of the evidence of any criminal activity fell short of what would be necessary to prove any allegation beyond a reasonable doubt.” The gaming studio famously collapsed in 2012 after receiving a $75-million loan funded by Rhode Island taxpayers. The architects of the controversial loan deal still face two civil cases: one state lawsuit will go to trial this fall; and a fraud charge filed by the U.S. Securities & Exchange Commission.
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