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The E-Sylum:  Volume 9, Number 8, February 19, 2006, Article 9

NOE CHARGED WITH 53 NEW COUNTS IN OHIO COIN SCANDAL

A February 13 Associated Press story reported that additional
charges in the Ohio pension fund coin scandal have been filed
against Tom Noe:

"A coin dealer and GOP fundraiser hired to manage an unorthodox
state investment in rare coins was charged Monday with embezzling
at least $1 million in an election-year scandal that has sent
Ohio Republicans running for cover.

Tom Noe, 51, pleaded not guilty and was released on $500,000 bail.
He was arrested over his handling of a $50 million investment fund
set up by the state workers' compensation bureau in an unusual
attempt to make money by buying and selling rare coins."

"Noe was charged Monday with stealing money from the coin investment
fund by writing numerous checks, sometimes for hundreds of thousands
of dollars each."

"Noe already faces charges of illegally funneling $45,000 to Bush's
re-election campaign. The 53 new counts include racketeering,
forgery, theft, money laundering and tampering with records, with
the most serious charge carrying up to 10 years in prison."

"The investigation began after The Blade newspaper reported in
April that the workers' compensation bureau had invested $50 million
in rare coins with Noe. At one point, investigators thought at least
121 coins were missing, but they eventually accounted for most of them."

To read the complete story, see: Full Story

To read a related article in the February 16th Toledo Blade, see: Full Story

  Wayne Homren, Editor

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