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RI GOP chair calls for probe into 38 Studios deal

June 5, 2013

PROVIDENCE, R.I. (AP) — The leader of Rhode Island’s Republican Party is calling for a special investigation into legislative involvement in the state’s failed investment in former Red Sox pitcher Curt Schilling’s video game company.

GOP Chairman Mark Smiley said Wednesday that he supports legislation to commission a new review of what transpired before the state’s Economic Development Corp. board approved a $75 million loan guarantee for 38 Studios.

The legislation was introduced by Senate Republicans but has so far has languished in the General Assembly.

Smiley says taxpayers deserve to learn what lawmakers knew when they approved the loan guarantee program that ultimately helped Schilling’s company.

38 Studios declared bankruptcy last year, leaving the state on the hook for more than $100 million connected to the deal.

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