Today, the U.S. Securities and Exchange Commission (SEC) charged a Wells Fargo unit and the Rhode Island Economic Development Corp with civil fraud stemming from a bond offering for 38 Studios, a now-bankrupt video game company. The bond offering was for 38 Studios, and the SEC claimed that the agency defrauded investors in order to finance the startup company, which was founded by former Boston Red Sox pitcher Curt Schilling. The $75 million bond was intended to spur economic development and create jobs, according to the SEC.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.