CNN is reporting that prosecutors have charged GOP fundraiser Tom Noe with theft and money laundering in an investigation of a controversial state investment in rare coins.
More below...
The 53 charges against coin dealer Tom Noe conclude a 10-month investigation by state and federal prosecutors into the $50 million rare coin investment Noe managed for the state insurance fund for injured workers.
Noe's attorney has acknowledged a shortfall of up to $13 million of the money Noe invested for the Ohio Bureau of Workers' Compensation. The state attorney general has accused Noe of stealing up to $6 million.
Noe, 51, already faced charges of using colleagues and associates to illegally funnel $45,000 to President Bush's re-election campaign. The new counts include forgery, theft, money laundering and tampering with records.
The investigation led to sweeping changes at the state workers' compensation bureau and charges against Gov. Bob Taft and four former aides.
Last year, Taft pleaded no contest to accepting golf games and other gifts he did not report. Last week, Douglas Talbott and Doug Moormann became the third and fourth former Taft aides charged with ethics violations over their relationship with Noe.
UPDATE:
According to Wired News, the 53 charges against Tom Noe conclude a 10-month investigation by prosecutors into the $50 million rare coin investment Noe managed for the state insurance fund for injured workers. Noe's legal team has acknowledged a shortfall of up to $13 million of the money Noe invested for the Ohio Bureau of Workers' Compensation. The state attorney general has accused Noe of stealing up to $6 million. Noe already faced charges of using colleagues and associates to illegally funnel $45,000 to President Bush's re-election campaign. The new counts include forgery, theft, money laundering and tampering with records.31392HWG on one other fund(s)