Addressing a crowd of reporters, Rhode Island Attorney General Peter Kilmartin said the notorious deal-gone-bad that was 38 Studios, the video game company started by former Boston Red Sox ace Curt Schilling, may have been bad policy, and bad politics, and bad business—but that after an extensive investigation by his office and state police, he had concluded that:
... The quantity and quality of the evidence of any criminal activity fell short of what would be necessary to prove any allegation beyond a reasonable doubt and as such the Rules of Professional Conduct precluded even offering a criminal charge for grand jury consideration.
The announcement, made in a joint press conference with R.I. State Police Col. Steven O'Donnell, marked the end of a years-long investigation into criminality in the implosion of the of the video game company after it received more than $70 million in state aid.
Several entities associated with the former company still face civil litigation alleging fraud by the state economic development agency, which itself, along with other 38 Studios players, faces allegations of deceptive business practices by the federal Securities and Exchange Commission.
Read the full press release here.
