SEC files charges against RIEDC, Wells Fargo in 38 Studios debacle

PROVIDENCE – The Securities and Exchange Commission last week filed charges against the R.I. Economic Development Corp. and its bond underwriter Wells Fargo Securities, alleging fraud that stems from a 2010 municipal bond offering to finance the now-defunct video game company 38 Studios LLC. The SEC is accusing Wells Fargo and the EDC, a quasi-state…

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