38 Studios will escape federal charges

Monday, 1 October 2012 00:55 GMT By Naren Hooson

The makers of Kingdoms of Amalur: Reckoning, 38 Studios, will not face federal charges for bank fraud. A state investigation into the studios attempt to secure loans with tax credits that were never issued is still proceeding, but the U.S. Attorney in Rhode Island has stated their investigation is finished.

Kotaku have reported that the Rhode Island’s economic commission is also investigating anyone who may be held financially liable, including studio founder and former Boston Red Sox pitcher, Curt Shilling.

The studio’s assets will be auctioned off on 23 October, which may include the Xbox 360 dev kits.