View Full Version : Ohio Officials Now Believe More Than $10 Million in Rare Coins Is Missing

05-27-2005, 10:39 AM
How Noe stole millions from funds
http://www.toledoblade.com/apps/pbcs.dl...?AID=/20050929/DEVELOPINGNEWS/50929031 (http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20050929/DEVELOPINGNEWS/50929031)

This scandal has been growing over the last month or so and it involves some of the highest Ohio GOP officials. It has gone as far as Gov. Taft's office (http://americablog.blogspot.com/2005/05/ohio-gop-coin-gate-hits-governors.html). I hope these thieves get what's coming to them and get it soon. Destroying the pensions of hard-working people is just downright evil! Damn corrupt politicians!

Ohio Officials Now Believe More Than $10 Million in Rare Coins Is Missing
COLUMBUS, Ohio (AP) - A scandal over Ohio's investment in rare coins deepened Thursday as authorities learned that more than $10 million in coins may now be missing. The state said it would prosecute and sue the fund's former manager.
Authorities originally had suspected that coins worth an estimated $400,000 had vanished, but an attorney for the fund manager told inspectors that $10 million to $12 million is missing, the state attorney general's office said.

That is about 20 percent of the $55 million investment by the Bureau of Workers' Compensation, which got into rare coins in the late 1990s as a way to hedge its investments in stocks and bonds.

"Such criminal action is outrageous and will not be tolerated," Gov. Bob Taft said in a news release. "We will pursue all legal avenues possible to recover these funds for injured workers and employers."

The focus of the investigation is Tom Noe, a private coin dealer and Republican donor who led the coin investment. Democrats have alleged that Noe was awarded the state's business in return for campaign contributions to Republicans, who control most of state government.

Officials do not know what assets are missing or where those items are supposed to be, bureau spokesman Jeremy Jackson said. Investigators had gone into Noe's coin shop under a court order issued Thursday morning, but weren't able to remove coins from their cases to inspect them and verify authenticity, Jackson said.

The bureau had made $15.3 million from the investments while Noe has collected about $3.8 million in commission. His shop outside Toledo had one of the two largest coin caches in the collection.

About a dozen cars were in the shop's lot Thursday, and a sign on the door read, "Closed for inventory." No one answered a knock.

"Mr. Noe will continue to cooperate with the investigation," said Jud Scheaf, a legal partner with Noe's attorney. He could not provide more details.

Questions about the investment surfaced in April when The Blade newspaper of Toledo found that two 1800s-era gold coins had disappeared. Noe said they were sent to a Colorado coin dealer but got lost in the mail in 2003.

The newspaper then reported that 119 other coins were missing. Noe said he thought the coins had been stolen by the Colorado dealer, whom he hired to assist with the fund.

The state responded by announcing plans to sell off its coin collection, which represents less than 1 percent of the bureau's total $14 billion in investments.

Noe was raided about a month ago:

Investigators seek evidence of campaign-fund activity

05-27-2005, 12:38 PM
Originally posted by: conjur

Destroying the pensions of hard-working people is just downright evil! Damn corrupt Rich Republican politicians!

Fixed for you and I have no sympathy for the citizens of Ohio.

"Noe was awarded the state's business in return for campaign contributions to Republicans, who control most of state government."

05-27-2005, 12:39 PM
Notice the freepers up here are avoiding this thread like the plague?

05-27-2005, 01:32 PM
Originally posted by: conjur
Notice the freepers up here are avoiding this thread like the plague?

Its tough with the 18 other threads you have on the first page. And, like most of them, this one is not really that interesting. I don't care about pension funds in Ohio.. find out who did it, proescute them, move on.. What do you want people to say? That they support stealing? What was the point of this thread other than to troll?

05-27-2005, 01:34 PM
Actually, at the real freep, there's a thread on this, and a number of people are quite pleased. Bob Taft and the rest of the Republican leadership in Ohio (with the exception of Ken Blackwell) are seen as being liberal or at least excessively moderate by most conservatives in the state. A number of people will be quite pleased to see Bob Taft and his cronies fall, and hopefully be replaced with a more conservative leadership in the GOP, even if it means some short term punishment for the party at the polls.

05-27-2005, 01:45 PM
Taft's approval rating is something like 19%! Seems to be pretty well hated.

05-27-2005, 01:54 PM
Originally posted by: conjur
Taft's approval rating is something like 19%! Seems to be pretty well hated.

Boot him out if he is a theif.

If he a liberal then hang him.
I am jk dont get your panties in a bunch :)

05-27-2005, 01:55 PM
I hope their report is ultimately printed on the correct paper stock per Ken Blackwell's requirement.

06-02-2005, 06:09 PM
http://toledoblade.com/apps/pbcs.dll/ar...?AID=/20050602/NEWS24/50602001/-1/NEWS (http://toledoblade.com/apps/pbcs.dll/article?AID=/20050602/NEWS24/50602001/-1/NEWS)
COLUMBUS ? A former high-ranking aide to Gov. Bob Taft accepted $39,000 from Tom Noe so he could buy a house in Lakeside, Ohio.

H. Douglas Talbott, who worked for Mr. Taft and former Republican Gov. George Voinovich, said he accepted the money as a ?loan? from Mr. Noe in September, 2002 ? after leaving the governor?s office in May, 2000, to become a lobbyist.

Mr. Talbott, 41, said he has not repaid the money to Mr. Noe, but he plans to do so with interest. ?I approached him about repaying it three times and he said, ?I want to wait until you are a bit more established,?? Mr. Talbott told The Blade. Mr. Talbott did not list the $39,000 loan from Mr. Noe as a gift in his ethics form covering 2003.More at the article.

These people are bucking to replace Bugman as the most corrupt Republicans in politics today.

06-02-2005, 06:13 PM
Republican goal is destroy the savings of common folks so they can become slaves

06-03-2005, 10:54 AM
Governors' ex-aide linked to campaign probe
http://www.cleveland.com/budgetscandal/.../base/news/1117791231263120.xml&coll=2 (http://www.cleveland.com/budgetscandal/plaindealer/index.ssf?/base/news/1117791231263120.xml&coll=2)
H. Douglas Talbott, a former top aide to two Ohio governors, told federal authorities that Republican coin dealer Tom Noe persuaded him to contribute $2,000 to President Bush's re-election campaign - then reimbursed him for the donation, The Plain Dealer has learned.

Talbott appeared Wednesday before a federal grand jury in Toledo that is investigating whether Noe illegally reimbursed as many as two dozen contributors to a Bush fund-raiser in October 2003. The grand jury is looking into whether Noe made the reimbursements to circumvent campaign finance laws, which limit individual contributions to $2,000.

Repeated attempts to reach Talbott were unsuccessful.

His appearance before the grand jury marked the first time a former top aide to Gov. Bob Taft and former Gov. George Voinovich has been linked to the federal investigation of possible laundering of Bush campaign money.

Jon Richardson, an attorney for Noe, could not be reached for comment.

In a separate investigation, the Ohio Ethics Commission is looking into a personal loan that Talbott received from Noe in 2002 to buy a home in Lakeside, near Port Clinton.

He is not the only former state employee who once advised Noe on his state duties, then benefited from Noe's largess.

Doug Moorman, a former executive assistant to Taft, told The Plain Dealer that he accepted a $5,000 loan from Noe.

The payment occurred in August 2004 - about 13 months after Moorman left the state payroll to join the Greater Cincinnati Chamber of Commerce, he said.

Terms of the loan are not in writing, Moorman said. In fact, the only term appears to a promise of repayment.

CONTINUED 1 | 2 | 3 | 4 | 5 NextNow, correct me if I'm wrong but isn't that...umm...ILLEGAL??

06-03-2005, 12:44 PM
The Propagandist will return $4,000 of the donations but hold on to the rest donated by Noe and company.
http://www.cleveland.com/newsflash/clev...17779450170820.xml&storylist=cleveland (http://www.cleveland.com/newsflash/cleveland/index.ssf?/base/news-17/1117779450170820.xml&storylist=cleveland)


06-03-2005, 08:12 PM
go figure

06-05-2005, 07:30 AM
It's always fun when we here in this area get into the national news!

I live near one of the Noe's many residences, and used to see him and his wife around once in a while. His wife got a huge settlement from Bowling Green State University for "sexual harrassment" a while back. Apparently that wasn't enough cash to get them the lifestyle they wanted, so the coin thing came along and they started stealing from that. And now, it's all coming down. They wanted to be "important", and they are getting their wish, in a negative way.

It's gonna be fun when the indictments start coming on this!! I DEMAND PERP-WALKS!

And in the fall, we will be seen round the world when my friend's cousin, a catholic preist goes on trial for killing a num 25 years ago. This one's gonna be great! Ritual sacrifice? Maybe. Group sex, probably. Forty year old preist having an affair with a 70 year old nun? Definitely!

Oh yeah. You'll see a lot of coverage on this deal!

07-22-2005, 03:31 PM

Petro: Noe stole millions
Coin deals described as 'Ponzi' scheme
Tom Noe stole millions of dollars from the state and used a ?Ponzi? scheme to fabricate profits within the state?s $50 million rare-coin investment, Ohio?s attorney general said yesterday.

?There was an absolute theft of funds going on,? Attorney General Jim Petro said.

Mr. Petro said there is evidence that Mr. Noe pocketed nearly $4 million in money invested with the coin fund through the Ohio Bureau of Workers? Compensation since 1998.

Mr. Petro asked a judge to further restrict the former Toledo-area coin dealer from selling personal assets because he believes they may have been purchased with state money.

State officials yesterday laid out a complicated scheme of payments between companies Mr. Noe controlled, which they say resulted in the theft of state money.

The attorney general said the theft began on March 31, 1998, the day Mr. Noe received the first of two $25 million payments from the workers? compensation bureau, and continued until late May ? more than eight weeks after The Blade first reported on April 3 that there were problems with the state?s investment.

?On Day One, Tom Noe took $1.375 million and put it in his personal or his business account,? Mr. Petro said. Records show that Mr. Noe immediately began using the state?s money for his personal use, the attorney general said.

A week later, Mr. Noe and his wife, Bernadette, made $4,500 in contributions to then-Secretary of State Bob Taft?s campaign for governor.

In the three months after the $1.375 million transfer of state funds, Mr. Noe made thousands of dollars in political contributions, including an additional $2,500 to Mr. Taft, $2,000 to then-Gov. George Voinovich?s Senate campaign, and $500 to Mr. Petro?s campaign for re-election to the state auditor post he held before becoming attorney general.

When asked if he believed the state?s money had been used for campaign contributions, Mr. Petro said: ?I don?t see that. I mean, clearly, Tom Noe personally contributed to campaigns and the source of his funds could very well be public money.?

But Mr. Petro connected the dots on Mr. Noe?s personal purchases, saying the Noes used ?public money? to acquire millions of dollars worth of homes, cars, and boats.

Mr. Noe?s attorneys acknowledged on May 26 that up to $13 million in state assets is missing from the coin funds, but they have not shed any light into what happened to the state?s money.

Mr. Noe did not return telephone calls yesterday, and Judson Scheaf, a Columbus attorney who is representing him, declined to respond to Mr. Petro?s claims that Mr. Noe illegally converted nearly $4 million in state money, except to say: ?Mr. Petro will have to prove his case in court.?

Mr. Noe, who has contributed more than $200,000 to political candidates, parties, and committees, is facing multiple federal and state investigations, including a probe into whether he illegally funneled money into President Bush?s re-election campaign last year.

A U.S. attorney and a county prosecutor said yesterday they are pursuing their criminal probe of Mr. Noe.

Lucas County Prosecutor Julia Bates, a member of the federal-state task force investigating Mr. Noe, said investigators still don?t know what happened to the state?s money.

?It?s such a spider?s web,? Ms. Bates said.

?Pattern of corruption?

Mr. Petro said yesterday that he had amended the state?s civil filing against Mr. Noe to include charges of negligence, unjust enrichment, and breach of contract for his conduct while managing the state?s rare-coin funds for seven years.

The attorney general said he expects Mr. Noe to attend an Aug. 30 deposition, when he would have to answer questions under oath.
The news conference occurred the same day The Blade reported about a flurry of activity in the coin funds in the days and weeks before May 24, the day the state froze coin-fund assets and two days before Mr. Noe?s attorneys said up to $13 million of the state?s money is missing.

On May 27, Judge David Cain of Franklin County Common Pleas Court ordered Mr. Noe and his wife to obtain the court or the state?s approval before selling assets above $15,000. Mr. Petro is asking that limit be lowered to $5,000 in light of the new accusations against Mr. Noe.

?It?s something that needs quick attention,? said Judge Cain, who scheduled a hearing for 9 a.m. Monday to hear Mr. Petro?s requests.
House Minority Leader Chris Redfern (D., Catawba Island) said Mr. Petro waited too long after The Blade?s April 3 story about the state?s rare-coin investment with Mr. Noe.

?Had the attorney general actually started to take action on April 4 after reading the first article ? rather than initially pooh-poohing any thought that Tom Noe could be a crook ? we could have secured what already had been sold, and that includes a $1 million house in the same township where I live,? Mr. Redfern said.

Mr. Petro said there?s more bad news to come about the state?s rare-coin investment.

?We think that as we go through ... more and more of the transaction records, March 31, 1998, until May 24, I think we?re going to find more instances where assets could have been converted or abused in one way or another,? Mr. Petro said.

There is a ?pattern of corruption,? and the profits reported by Mr. Noe were fictitious, the attorney general said. He said the coin funds never turned any profit for the state.

Mr. Petro said Mr. Noe?s operation had the markings of a ?Ponzi? scheme, the moniker for an old scam that takes place when someone brings in ?investment dollars and you pay the investment dollars out as supposed earnings, when in fact to get that money you bring in more investment dollars.?

?You know, named after that famous scam artist, a guy named Ponzi,? he said. ?Yes, I think it?s a Ponzi scheme.?

?Flipping? coins

Transaction records, Mr. Petro said, show money being paid to Mr. Noe?s personal accounts but not being documented in coin-fund records. However, Mr. Petro said no satisfactory audit has been conducted on the state?s coin funds throughout their seven-year history.

As part of its motions filed yesterday, the state said Thomas Noe Inc. ?engaged knowingly and allowed others to engage in unlawful ?flipping? of coins resulting in inflated, false, and illusory profits to the funds. Noe Inc. allowed others to engage in conduct detrimental to the financial well being of the fund.?

Mr. Noe?s attorney, Mr. Scheaf, said it was ?unnecessary? for Mr. Petro to file a motion to add three counts to the lawsuit the state filed against Mr. Noe in Franklin County.

?There is nothing new in the allegation of conversion,? Mr. Scheaf said. ?Mr. Petro has no judgment against Mr. Noe. He has no business conducting discovery or seeking information about Mr. Noe?s private information.?

In March, 1998, several days before the bureau invested $25 million with Mr. Noe?s Capital Coin Fund, Mr. Noe?s account at National City Bank was running a negative balance and had previously bounced 40 checks, Leonard Palaibis, a forensic accountant for the attorney general?s office, wrote in a sworn affidavit.

On March 31, 1998, the same day the bureau transferred $25 million to Capital Coin, $1.375 million was wired from Capital Coin Fund?s account at National City Bank to Mr. Noe?s Vintage Coins and
Collectibles account at National City Bank, the forensic accountant wrote.

Also on that day, Mr. Noe made a principal payment of $396,470 from the Vintage Coin account to pay off a commercial loan ? most of it incurred by Vintage before Jan. 1, 1998, the affidavit said.
Mr. Noe, through his companies, paid himself and the bureau with money he reported as ?profits,? William Becker, Mr. Petro?s lead trial counsel, wrote.

From March, 1998, through May, 2005, Capital Coin Funds I and II paid Mr. Noe?s company, Vintage Coins and Collectibles, $2.16 million in ?profits? over a series of 17 separate transactions, Mr. Becker said.

In his affidavit, Mr. Palaibis stated that a review of Capital Coin Funds? ledgers showed $7.9 million in ?earned alleged profit? for the BWC.

The claims filed yesterday state that on May 16, 2005, Mr. Noe liquidated coin-fund stocks being held in Charles Schwab accounts totaling $400,000 and transferred the money into his Vintage Coin and Collectibles account. The last alleged ?profit distribution? to Vintage occurred on May 17, in the amount of $200,000, Mr. Palaibis wrote.

Mr. Becker wrote that Mr. Noe?s attorney ?confessed? May 26 that $10 million to $12 million was ?unaccounted for.?

?With this confession, it is becoming clear that these Coin funds had never been profitable and that by paying himself a ?profit,? Mr. Noe was converting BWC funds to his personal use,? Mr. Becker wrote.
Mr. Becker wrote that ?despite pocketing nearly $2 million,? Mr. and Mrs. Noe ?have not put aside a single penny in restitution for the $10 million to $12 million shortfall in the Coin Funds; funds to benefit the injured workers of Ohio.?

But there is concern that the money went elsewhere.

Real estate deals

Flush with cash from the coin funds, the Noes dabbled in high-end real estate. In addition to purchasing vacation homes in the Florida Keys and on Catawba Island, the couple built a home in suburban Toledo.

In March, 1999, Mrs. Noe bought a half-acre lot in Maumee worth $86,000 and constructed a five-bedroom home that she sold for $723,000 almost five years later. In nearby Sylvania, Mr. Noe bought, built, and sold a house between 2001 and 2002. The four-bedroom house fetched $529,000, according to Lucas County property records.

Those houses seem modest compared to the Noes?s vacation retreats.

After unloading the Sylvania house, they paid $270,000 to Mr. Noe?s father-in-law, Francis Restivo, a retired Lucas County Court of Common Pleas judge, for a lot on Catawba Island. They built a 4,259-square-foot home on the lot in 2003, which they sold this May for $990,00 after the coin fund?s problems were uncovered.

The couple?s most valuable house is in the Florida Keys, where Mr. Noe currently is secluded. In June, 2003, he sold the Sunshine State home bought two years earlier for $1.295 million, doubling his money.

They replaced it with a $1.85 million multi-storied home with an ocean view.

Among the Noes? assets listed in the state?s civil suit are:

*The Catawba Island home, purchased in 2002, which was sold on May 26 for $990,000.

*A boat, purchased in 2003, which recently was sold for $55,000.
wThe Maumee condo, purchased last year, which was sold on June 28 for $550,000.

?[Coin fund] money has been used to acquire personal investments, whether it?s a Florida home, a Catawba Island home, or a Maumee, Ohio, home, or vehicles, or boats,? Mr. Petro said yesterday. ?All of those assets have been acquired by Tom Noe. And they?ve been acquired with public money.?

Mr. Petro also said yesterday that there will be ?some measure of suspicion? about other state officials and their role in Mr. Noe?s investment, refusing to rule out the possibility that bureau employees and members of the governor?s staff could be investigated.

Former members of the governor?s staff have acknowledged receiving loans from Mr. Noe, attending lavish dinners that he hosted, and vacationing at his Florida home.

Jeremy Jackson, spokesman for the bureau, said the bureau officials who approved the rare-coin investments are no longer with the bureau. Questions about how the funds could have gone so awry need to be addressed by them, he said.

?It?s clear it was a mistake. It?s clear additional controls are necessary,? he said. ?It?s certainly easy to say, looking back, more should have been done. Looking back, the investment wasn?t a prudent one.?

An eye on assets

If Mr. Petro were conducting the criminal investigation into Mr. Noe?s behavior, he said the appropriate charge lodged against the former Toledo-area coin dealer would be ?theft.? Mr. Petro, however, is representing the state?s interest only in civil matters.

Gregory White, the U.S. attorney for the northern district of Ohio, who is investigating Mr. Noe for alleged criminal wrongdoing said yesterday that he could not say if criminal charges were ?imminent.?

?I am one of four prosecutors involved in the criminal investigation,? Mr. White said, adding that he had consulted with Mr. Petro about placing more restrictions on the Noes? assets. ?We are coordinating with all of the other agencies and departments to make sure there isn?t confusion that might impact one of our functions. We will follow the leads wherever they go.?

On April 27, Mr. White confirmed the federal investigation of Mr. Noe for possible violations of campaign contribution laws. On May 31, federal and state prosecutors agreed to form a task force to oversee the investigation of the state?s rare-coin investment that Mr. Noe controlled and to pursue criminal charges.

Lucas County Prosecutor Bates said Mr. Petro had made the right decision to ask the Franklin County court to require the Noes to receive court permission to sell personal property valued above $5,000.

The current limit is $15,000.

Ms. Bates said Mr. Noe has at least four attorneys, and Mrs. Noe also has at least four attorneys.

?We need to tie up those assets,? Ms. Bates said. ?Until we can unravel what is his money and what is the state?s money, the money is flowing.?

Ms. Bates said Mr. Noe is entitled to legal representation, but she expressed concern that state funds were being used to pay legal fees.

She said it was unclear what happened to the money that Mr. Noe allegedly converted for his own use.

Although Mr. Petro has scheduled an Aug. 30 deposition of Mr. Noe, Ms. Bates said the civil case could be ?put on the back burner? until the federal investigation is completed because of Mr. Noe?s Fifth Amendment rights.

Franklin County Prosecutor Ron O?Brien said Mr. Petro?s work is aiding investigators.

Mr. O?Brien said the task force of federal and state investigators is shooting for Labor Day weekend to ?have something to evaluate.?

Asked why Mr. Noe has not been arrested, Mr. O?Brien replied: ?There is a whole big package and once presented, it will be the basis of legal action.?

Mr. O?Brien said he is not worried about Mr. Noe leaving the country.
?We know where he is and he and his lawyers have responded to any request for information or contact,? said Mr. O?Brien, who declined to comment whether he has interviewed Mr. Noe.

A political issue

In an April 7 interview with The Blade, Governor Taft vehemently defended Mr. Noe and the state?s rare-coin investment: ?He?s probably been the most effective advocate for this part of the state in Columbus that you?ve got and you?re going after this guy. You?re trying to kill him for some reason.?

After yesterday?s news, Mark Rickel, a spokesman for the governor said: ?When evidence of Noe?s mishandling of state money first began to surface, the governor acted to dissolve Noe?s investment with the bureau and to expedite the inventory of his assets.?

He added, ?The governor commends the attorney general?s continued vigorous pursuit of all assets that belong to the state.?
Democrats, though, have accused Republican officeholders ? who benefited from Mr. Noe?s windfall in the form of campaign contributions ? from protecting their friend and ally for nearly two months, allowing him time to move money and coins within the investment.

Columbus Mayor Michael Coleman, who is seeking the Democratic Party?s nomination for governor, distributed a copy of an April 5 letter he sent to Mr. Petro asking him to embrace his proposal for an ?independent? investigation of Mr. Noe and the bureau.

Mr. Coleman said Mr. Petro ?ignored that request.?

?Instead of aggressively pursuing the matter, Petro remained silent,?? said Mr. Coleman, in a written statement. ?Later that month, The Blade revealed that Petro and Auditor Betty Montgomery joined Noe in financing a campaign television ad on behalf of a Lucas County Republican Party county commission candidate.?

The Blade reported June 20 that Mr. Noe loaned the Lucas County Republican Party?s candidates? fund $40,000 on Oct. 22, 2002 ? the day before the fund paid the same amount to a Columbus firm that bought a series of television ads for Maggie Thurber on Toledo stations.

The same day Mr. Noe made his loan, Mr. Petro contributed $10,000 to the candidates? fund. Ms. Montgomery?s campaign contributed $26,000 of in-kind services to Ms. Thurber?s campaign.

?It was clear that not only was Petro a recipient of campaign donations from Noe, they were also political allies,?? said Mr. Coleman. ?No wonder Petro had no stomach to investigate wrongdoing by Noe.?

Jason Mauk, a spokesman for the Ohio Republican Party, said it is ?unfortunate Democrats continue to politicize this issue while Republicans are providing the leadership necessary to address it.?

?Attorney General Petro is providing outstanding leadership in getting to the bottom of these concerns as quickly as possible and we are extremely satisfied by the progress that is being made by all of our Republican elected officials,? Mr. Mauk said.Burn, baby, burn!

07-22-2005, 03:53 PM
Originally posted by: dahunan
Republican goal is destroy the savings of common folks so they can become slaves
As opposed to the Democrat goal of taxing middle America into oblivion so that we all live on the dole and can become slaves of the gub'mint?

07-22-2005, 03:55 PM
Originally posted by: BoberFett

Originally posted by: dahunan
Republican goal is destroy the savings of common folks so they can become slaves
As opposed to the Democrat goal of taxing middle America into oblivion so that we all live on the dole and can become slaves of the gub'mint?We weren't being taxed into oblivion in the 90s.

Taxes need to be increased and spending cut dramatically or we'll be in for a world of hurt soon.

But, that's getting off the topic.

I want to see these people in prison, and I'd love to see it linked to Blackwell and have the Ohio voting process problems finally out in the open.

07-22-2005, 03:58 PM
Originally posted by: conjur

Originally posted by: BoberFett

Originally posted by: dahunan
Republican goal is destroy the savings of common folks so they can become slaves
As opposed to the Democrat goal of taxing middle America into oblivion so that we all live on the dole and can become slaves of the gub'mint?We weren't being taxed into oblivion in the 90s.

Taxes need to be increased and spending cut dramatically or we'll be in for a world of hurt soon.

But, that's getting off the topic.

I want to see these people in prison, and I'd love to see it linked to Blackwell and have the Ohio voting process problems finally out in the open.

*sigh* Of course it's off topic. I was responding to an absurd statement by dahunan in kind.

Prison time works for me. We could throw every current politician in prison and I wouldn't shed a tear. Time to start over. There's not an honest one in the bunch.

07-22-2005, 05:03 PM
Originally posted by: BoberFett

*sigh* Of course it's off topic. I was responding to an absurd statement by dahunan in kind.

yes, yours was equally absurd.

07-22-2005, 05:21 PM
Originally posted by: BoberFett

Originally posted by: dahunan
Republican goal is destroy the savings of common folks so they can become slaves
As opposed to the Democrat goal of taxing middle America into oblivion so that we all live on the dole and can become slaves of the gub'mint?

Actually demos propose ideas to cut middle americas taxes. one program that got no traction from Dodd calling for elimination of small biz employers SS contribution for himself, since small biz man pays double SS now. It's Reps working to cut the elite taxes to zero from Cap gains and other tax free income sources that makes cutting "middle america" impossible considering the services and goods we want.

This is why someone like Kerry paid 14% on his tens of millions in income..while it's pretty easy for someone in the middle class making 150K to pay 50%.

07-22-2005, 05:27 PM
A scandal over Ohio's investment in rare coins

That's their first problem.


07-22-2005, 05:34 PM
Originally posted by: irwincur

A scandal over Ohio's investment in rare coins

That's their first problem.


That's what I was wondering too.

Strange, eh?

07-24-2005, 10:56 PM
Well, it's all coming out that it was a scam from the start. All kinds of money was exchanged (laundered) between Noe's "companies"in a shell game that obviously, when exposed, has no purpose other than as a scam. I don't know how he thought he was going to get away with it, these scams ALWAYS fall apart, unless the principal scammer dies or kills himself, like another guy here in Toledo did when money was discovered to be missing. It turned out he stole several million dollars over a 25 year period. When he "semi-retired" another person was given access to the accounts and instantly saw something was wrong. As soon as they announced they were auditing the one account, he ate his gun.

Now Noe's wife Bernadette (AKA Bernie) (an attorney and daughter of a judge) is trying to say she never knew anything about what was going on? PUHLEEZE! I hope she keeps saying that BS, it's going to insure she gets to do the "shackle shuffle" on her way to federal prison!

From the gossip I've heard, the grand jury keeps calling more witnesses and the probable indictments keep adding up.

I want to see PERPWALKS. Tom and Bernie being taken in, and then in the orange jumpsuits!

07-27-2005, 09:47 AM
Prosecutor to charge ex-Taft aide
Reduced-price vacations weren't reported to state
COLUMBUS ? A Columbus prosecutor said yesterday he will file criminal charges against Brian Hicks, the former chief of staff for Gov. Bob Taft, for not reporting stays at coin dealer Tom Noe?s Florida Keys vacation home at below market rates.

Chief Columbus City Prosecutor Stephen McIntosh said his office is racing a judicial clock and has only until Friday to file the charges because of a two-year statute of limitations. Mr. Hicks left the governor?s office July 31, 2003.

The prosecutor said other former and current staffers from the governor?s office are also being investigated for a similar allegations of accepting gifts without reporting them on financial disclosure forms, as required by state law.

Mr. McIntosh declined to provide more details, or if the gifts came from Mr. Noe.

Mr. Taft is also under investigation by the prosecutor?s office for potential violations for not reporting free rounds of golf at the Inverness Club, the exclusive, U.S. Open-level course in Toledo, and possibly at other courses, sources also told The Blade yesterday.

The charges to be filed against Mr. Hicks this week ?involve our review of the use of the home in Florida, as well as [Mr. Hicks?] receipt of gifts from people,? Mr. McIntosh said.

The prosecutor said he would have to show that Mr. Hicks and others who might be charged in the future ?knowingly? did not report the gifts.

The Blade first reported on May 12 that Mr. Hicks paid $300 to $500 for five nights in the Noes? 3,600-square-foot waterfront home in 2001 and stayed there again for a few days a year later.

Each time, he was serving as Mr. Taft?s chief of staff.

?I am not talking to any press,? Mr. Hicks said yesterday when contacted by The Blade.

Mark Rickel, spokesman for the governor, said the governor?s office didn?t know about the coming charges and had no comment.

The Noes were interviewed on Friday by members of the law-enforcement task force investigating Mr. Noe.

The couple cooperated with authorities, Mr. McIntosh said.

Mr. Noe, a political contributor to the GOP who is under investigation by the FBI and a federal grand jury in Toledo investigating whether he illegally funneled money to the Bush-Cheney re-election campaign, is embroiled in a far-reaching rare coin scandal in Columbus. The Ohio Bureau of Workers? Compensation, the state?s insurance fund for injured workers, gave Mr. Noe $50 million to invest in rare coins, giving him $25 million in 1998 and another $25 million in 2001.

Mr. Noe?s lawyers have said that from $10 million to $13 million is missing from the funds.

Mr. Hicks, who served as the governor?s chief of staff from 1999 until 2003, started his own lobbying firm after leaving the governor?s office two years ago.

The improper receipt of gifts can bring a misdemeanor charge that can result in a $1,000 fine and a possible six months in jail. Failing to disclose the gifts carries a $250 fine and a possible 30 days in jail.
Misdemeanor ethics violations are handled by the city prosecutor?s office and not the Franklin County prosecutor?s office, Mr. McIntosh said.

Ron O?Brien, the county prosecutor, wouldn?t discuss details of the Hicks? investigation.

?Everyone investigating, and the attorneys, are cognizant that there?s a statute of limitations,? he said.

State Sen. Marc Dann, a suburban Youngstown Democrat and the leading critic of the bureau?s rare coin investment, said he was worried the deadline would pass without charges being filed.

?I?m thrilled. ? It seems clear a crime was committed and it needs to be prosecuted,? he said. ?If for some reason Brian Hicks isn?t guilty, I?m anxious to hear.?An odd twist in this but the investigation is still continuing.

07-28-2005, 09:18 PM
Petro accused of holding out on coin records
State largely ignores ruling of high court, paper claims
http://toledoblade.com/apps/pbcs.dll/ar...50728002&SectionCat=&Template=printart (http://toledoblade.com/apps/pbcs.dll/article?Date=20050728&Category=NEWS24&ArtNo=50728002&SectionCat=&Template=printart)
COLUMBUS ? In the two weeks since the Ohio Supreme Court ordered the state to make public the records of rare-coin funds managed by Tom Noe for the Ohio Bureau of Workers? Compensation, only three of an estimated 120 boxes of documents have been released.

Because of the slow pace of handing over the records, The Blade asked the Supreme Court yesterday to find the bureau and the two coin funds in contempt of court and requested that a receiver be appointed to take custody of the records.

Blade attorney Fritz Byers, in the motion, labeled the attorney general?s conduct a ?disobedient refusal? to comply with the high court?s July 13 ruling.

Mr. Byers rejected state Attorney General Jim Petro?s announcement last week that he is ?obligated? to review the documents before they are released to the public and the media.

?The Supreme Court?s ruling is clear and indisputably correct,? Mr. Byers said yesterday in an interview. ?Neither the ruling nor any of the principles of law suggests that the attorney general or any other official can review the records to determine if the Supreme Court was correct in ordering that they be made public.?

In his motion before the high court, Mr. Byers criticized the attorney general?s attempt to review the documents before they are released.

?The position taken by the attorney general ... manifests either immense disrespect for the constitutional allocation of powers or an incredible tone-deafness,? he wrote. ?The public repudiation of this court?s judgment by the state?s attorney general can have no other effect than a grievous erosion in respect for the rule of law.?

Mr. Byers also asked the court to impose monetary sanctions against the bureau and the coin funds and ?coercive monetary sanctions? until the court?s order is complied with.

The Blade asked the Supreme Court in May to order the bureau to provide access to uncensored audit reports of the coin inventories and records documenting transactions of the coin funds.

Mr. Noe established the funds and convinced bureau officials to give him $50 million to invest in rare coins.

The bureau was planning to invest another $25 million with Mr. Noe until The Blade began writing about the funds, and problems with their management, in early April.

On May 26, state officials announced they were pursuing civil and criminal measures against Mr. Noe after his attorney informed authorities that up to $13 million was missing from the rare-coin investment.

The Supreme Court ruled 5-2 on July 13 that the coin-fund records are public records and should be made available.

But since releasing the initial three boxes of records last week, Mr. Petro?s office has refused to release any additional records.

?Mr. Petro went to law school and knows what the Supreme Court?s unambiguous opinion means,? said John Robinson Block, publisher and editor-in-chief of The Blade.

?He has no choice but to turn over the records immediately. I wonder if this is a calculated political decision that it is better to be held in contempt of the Supreme Court than to reveal what is in those records.?

Kim Norris, a spokesman for Mr. Petro, said yesterday that no more records were likely to be released this week.

?We are complying with the court?s order,? she said. ?We are reviewing the records to determine which documents are responsive to the court?s order and at the same time taking into consideration the criminal investigative team?s request to keep confidential certain investigatory documents.?

Ms. Norris released a letter yesterday from the Ohio inspector general?s office that asks the attorney general?s office not to release any more records because of their potential impact on the ongoing criminal and civil investigations into Mr. Noe and his business dealings.

In that letter, the inspector general?s chief legal counsel, Lora Manon, argued that some of the Noe records held by the attorney general?s office relate to the multiagency investigation of Mr. Noe and ?may pertain to conduct prohibited by statute or administrative rule.?

?Those documents, records, and data are exempt from disclosure as public records, as you know,? Ms. Manon wrote to the attorney general?s office.

?Specifically, we are requesting that you not release, to either the media or others, any of the remaining records, data, information, etc. you were given,? she wrote.

Mr. Byers said that is a wrong interpretation of state law.

?This is stunning. That a governmental lawyer representing an appointee of the governor would advise the attorney general to disobey a decision of the Supreme Court reflects a grave threat to the state?s constitutional theme and the rule of law,? Mr. Byers said.

Ms. Manon, although requesting that no records be released, also said that ?care should be taken? to not release personal correspondence, notes, personal financial statements, and private calendars.

However, Ms. Manon wrote that the attorney general can release the ?unredacted? transaction records and audit reports of coin inventory records for the two coins funds and other information contained in the 40 boxes of materials associated with those funds.

?As the Ohio Supreme Court held, those records are clearly ?public records? and are subject to disclosure,? she wrote.

Inspector General Tom Charles could not be reached for comment. Records released last week included bank statements, loan statements, and checks between Mr. Noe?s coin funds and their subsidiaries.

No personal financial information was released.

The attorney general has control of tens of thousands of documents, many produced by a search warrant of Mr. Noe?s Vintage Coins business in Monclova Township in May.

They include, according to Ms. Manon?s letter, 46 boxes of documents that pertain to Tom Noe Inc., the parent company of Vintage Coins and Collectibles, as well as seven boxes of records obtained by grand jury subpoena.

In its July 13 ruling, the high court rejected the state?s argument that Mr. Noe?s records, which show the sellers, dates, and purchase prices of coins in the state?s inventory, as well as other financial transactions, are ?trade secrets? exempt from the Ohio Public Records Act.

Writing for the majority, Democratic Justice Alice Robie Resnick of Ottawa Hills said the documents should be released immediately for public inspection.

Five Ohio appellate court justices were appointed to hear the case after five Supreme Court justices recused themselves from the case because they had accepted campaign contributions from Mr. Noe. Justice Paul Pfeifer, a Republican, added in a concurring opinion: ?From the outset, the Bureau of Workers?

Compensation?s ?trade secret? argument seemed more a delaying tactic than a legitimate legal issue.?

State Sen. Marc Dann, a Youngstown-area Democrat, said yesterday that the state?s delay in releasing the records to The Blade is looking like a pattern.

He has been fighting the governor?s office over the release of weekly staff reports.

?The stonewalling that?s going on in these cases is truly reminiscent of Richard Nixon,? he said, referring to the months of delays it took to get information from Mr. Nixon?s White House during Watergate. Mr. Dann said the attorney general?s office should not be reviewing records to determine which ones to release.

?Whether or not they?re public has already been litigated and won,? he said.

He criticized Mr. Petro, saying he should take more of a watchdog role rather than act solely as the attorney for the Ohio Bureau of Workers? Compensation.

?At some point you have to hold the attorney general of the state accountable for not standing up to his clients when the law is clear,? he said.

?Nothing could be more clear than a Supreme Court decision ordering the release of certain records.?It's like a mini-Propagandist administration going on in Ohio. They live in their own little world and haven't a clue as to right/wrong.

09-30-2005, 10:19 AM
How Noe stole millions from funds
http://www.toledoblade.com/apps/pbcs.dl...?AID=/20050929/DEVELOPINGNEWS/50929031 (http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20050929/DEVELOPINGNEWS/50929031)
Ohio Attorney General Jim Petro presented evidence today of how Tom Noe stole from the state?s $50 million rare coin funds.

According to a filing with the Franklin County Court of Common Pleas, Mr. Noe bilked the two coin funds established by the Ohio Bureau of Workers? Compensation through a variety of methods, including check forgery.

Mr. Petro has already accused Mr. Noe of running a Ponzi scheme and stealing $4 million, claims he backed up today with a series of affadavits that showed:

? Mr. Noe transferred money between the coin funds to show a false profit to the bureau.

? Mr. Noe used money from the coin funds to purchase a Catawba Island vacation home from his father in-law, retired Lucas County judge Francis ?Buddy? Restivo.

? Mr. Noe forged a $110,000 check with the name of a fellow member of the Ohio Board of Regents, Gerry Gordon. He used the check to route bureau money to a bank account he shared with his wife, Bernadette Noe.

William Wilkinson, a lawyer for Mr. Noe, did not return a phone call asking for comment.

The filing also alleges that Mr. Noe plans to establish residency in Florida so that Ohio cannot reclaim assets that Mr. Noe could have taken. Records show that as much as $13 million is missing from the coin funds.Pretty damning evidence against Noe. Forgery on a $110,000 check? Buying a vacation home using public funds?

Tsk tsk tsk