Posted November 01, 2012

Curt Schilling sued by state of Rhode Island over $75 million loan guarantee

MLB
Curt Schilling

Former pitcher Curt Schilling was sued by the state of Rhode Island over a loan guarantee that backed his failed video game company. (Jim McIsaac/Getty Images)

The state of Rhode Island sued Curt Schilling over the $75 million loan guarantee that backed 38 Studios, according to an AP report. Schilling founded 38 studios, a video game company, in 2006 (then called Green Monster Games) and it went bankrupt and ceased operations in May of this year.

The lawsuit was filed late Thursday morning and also named as defendants one-time officials with the state’s economic development agency, the Economic Development Corp., who were involved in the deal. The state’s governor, Lincoln Chafee said in a video message that the EDC board took legal action to “rectify  a grave injustice put upon the people of Rhode Island.”

Schilling pitched in the major leagues for 20 years and was an All-Star six times.


8 comments
Kp
Kp

Really, really sad for Schilling.  

 

Had Schilling paid attention, he'd know that to be a Republican who gets away with ripping off others, he needs to buy CONNECTIONS.

 

Schilling thought it was true about democrats/vs/republicans.  Now he's learning the truth.  It's about one hand greasing the other(s).

 

Better luck in your next life, Curt.  I forsee Banko in this life. 

Michael10
Michael10

Schilling a Republican? Well there go his Hall of Fame chances. That's the only group the media villifies more than PED-users...

gloryrevolution
gloryrevolution

He's a republican why should he have to pay back the loan? Lol What do you expect from a a self-righteous man... Where are his christian ethics now? Take everything he has and enforce the "pierce-the-veil" law to collect from any trust fund he has or any money he may have off shore.

JUSTINL
JUSTINL

Oh boy here we go. Another jerk bringing Schillings political affiliation into the mix. Seriously the guy reached for the stars and fell way short. Big deal, it happens to all of us at one point or another in our lives. And I do not want to here that taxpayer burden crap either. You will never see nor notice that you paid for his failed business venture, And your assuming he has an offshore account and/or trust fund? The guy lost $50 million of his own money in this so I highly doubt it. Your comment is garbage.

Dean6
Dean6

I sure hope he didn't make off like a bandit with other people's money- he didn't even pay his employees for a while. I don't trust him whatsoever. Dude deserves whatever comes his way

JUSTINL
JUSTINL

 @Dean6 Lost $50 million of his own money when his company went belly up. Not to mention he did pay everyone that worked for him in that last week out of his own pocket. Sure he deserves what is coming to him but I highly doubt his actions were fraudulent or malicious.

michael.e.loik
michael.e.loik like.author.displayName like.author.displayName 2 Like

So, blowhard Republican a$$holes like Schilling can get $75M handouts, but to everyone else this is socialism?

Kp
Kp

 @michael.e.loik It's only socialism when non-connected people happen to get $$$$ out of the gov't.  For the rest (repubs and dems) it is either politics (for dems) or business (for repubs).

 

This system is great for everyone but the poor and middle class (whatever middle class that still exists).