HARTFORD, Conn. (AP) — TicketNetwork Inc. says it's withdrawing from a Connecticut state economic development program because of the arrest of the company's chief executive in an alleged hate crime.
The online ticket exchange company announced Wednesday that it was withdrawing from the "First Five" program in an effort to preserve a future relationship with the state.
TicketNetwork and the state announced a $7.75 million loan package for the company last year under the program, which gives businesses financial incentives in exchange for job creation.
TicketNetwork CEO Donald Vaccaro was arrested early Monday on allegations he made a racial insult at an Oscar party in Hartford.
Vaccaro announced Tuesday that he was taking an indefinite leave of absence, after Gov. Dannel P. Malloy said the state is examining the loan deal with TicketNetwork.