A hearing related to the failed $75 million loan deal for former Red Sox pitcher Curt Schilling's video game company 38 Studios that was supposed to take place yesterday (July 17) has been rescheduled for early August. Some of the key players in the deal were asked to attend, including Curt Schilling, Michael Corso – who represented the company as its legal counsel – and Thomas Zaccagnino, one of the company’s board members.
Secretary of State A. Ralph Mollis is hoping that former 38 Studios executives and other related to the loan deal to explain why they shouldn’t be fined for allegedly conducting unregistered lobbying activities in 2010. Mollis launched his investigation shortly after Providence news station Target 12 aired a special called "38 Studios: Behind Closed Doors" – which took an in-depth look at the company’s lobbying efforts prior to the loan deal getting the green light in 2010.
Lawyers representing Corso, Schilling and Zaccagnino deny that their respective clients were involved in any wrongdoing. Primary opponents say that Mollis is too close to the deal because when he was a legislator back in 2010 he voted for the program that inevitably created the bonds that funded the $75 million loan to 38 Studios. The debt and principle related to that loan has put the state of Rhode Island on the hook for at least $90 million…
We will have more on this story as it develops.
Source: WPRI News 12