RI Authorities Drop Criminal Investigation Into 38 Studios

Authorities in Rhode Island have decided to drop an investigation into possible criminal wrongdoing regarding the dissolving of video-game company 38 Studios.  U.S. Attorney officials say a review of possible violations regarding the company backed by former Major League Baseball pitcher Curt Schilling has turned up no criminal acts.  State and federal authorities began an investigation earlier this year after it was reported that Bank Rhode Island had loaned 38 Studios eight-point-five-million dollars to try and keep the company afloat.  The Rhode Island Economic Development Corporation gave 38 Studios a 75-million dollar loan to lure Schilling's company to the state in 2010, but 38 Studios went bankrupt earlier this year after missing loan payments and payroll. (Metro Network)