No charges will be filed against Kingdoms of Amalur: Reckoning company 38 Studios or former Rhode Island Economic Development Corporation officials, the state's Attorney General Peter Kilman and State Police Colonel Steven O'Donnel announced Friday at the conclusion of a 4-year investigation.
While the attorney general and state police were critical of 38 Studios and the RIEDC's poor business decisions, which left taxpayers holding the bag for a $75 million loan, they ultimately concluded there was not enough quality evidence to support a conviction in this case.
Rhode Island is, however, reserving the right to press charges should new information come to light in the future -- which it very well may, considering both the State and the U.S. Securities and Exchange Commission are continuing to look into the matter for civil cases.
Of the criminal investigation, 38 Studios founder and former Major League Baseball pitcher Curt Schilling, whose, uh, colorful social media presence got him fired from a sweet commentator gig at ESPN, declared the whole ordeal a "fake ass witch hunt" that wasted millions of dollars.
This decision follows a similar one from the U.S. Attorney's office, which looked into the possibility of bank fraud and federal law violations in September 2012, but saw no need for further action.
Results of the criminal investigation of 38 Studios, LLC [Rhode Island, WPRI]... read more