The main investor in a Grand Rapids movie studio that applied for state film subsidy money has been charged with attempted felony false pretenses over $20,000, according to The Grand Rapids Press.
Attention was first drawn to this issue after the Mackinac Center broke the story following a months-long investigation by Center analysts, including a call for the Michigan Attorney General to investigate the Hangar42 deal. Fiscal Policy Director Mike LaFaive and Communications Specialist Kathy Hoekstra raised several questions about the matter with an essay and investigative video posted May 20. At issue was the value of the proposed film studio, which those involved said was worth $40 million, even though it had been listed by a real estate agent for $10 million shortly before the deal was announced.
A comprehensive list of Mackinac Center analysis of Hangar42 can be found here.
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