Darkhawk28
Diamond Member
We'll probably see this guy on the Appropriations Committee very soon next to Tom Delay as it is the M.O. of today's radical right-wing Republican party. His partner was also indicted, but I'm sure this is just the begininng when it comes to this one scandal (CoinGate). Noe was guess what... A BUSH PIONEER!
Noe Indicted on 53 Counts. More Republican Culture of Corruption
TOLEDO -- Thomas W. Noe, the coin dealer and prominent Republican contributor whose $50 million state coin investment sparked one of the biggest scandals in Ohio state government history, was indicted today on 53 felonies, including theft of more than $1 million.
The charges include engaging in a pattern of corrupt activity, 11 counts of theft, 11 of money laundering, 8 of tampering with records and 22 of forgery. He could be sentenced to a maximum 175 years in prison, although such a sentence is considered unlikely.
Also indicted in the scheme was Timothy H. LaPointe, Noe's partner in the coin business, who was named in seven counts. He was charged with engaging in a pattern of corrupt acitivity and six counts of tampering with records, said the indictment filed in Lucas County Common Pleas Court.
Noe, through lawyer Jon Richardson, pled not guilty to all charges during an arraignment this morning before Lucas County Common Pleas Judge Thomas J. Osowik.
The judge set bond at $500,000, which Noe's lawyer said Noe will post. Richardson asked for a lesser bond, but the judge declined because of the number of charges involved.
Noe, formerly of Maumee who now lives in Florida, arrived at the Lucas County Courthouse shortly after 8 a.m. this morning with Richardson.
Besides the state charges unsealed today, Noe also faces federal charges of illegally funneling $45,400 to President Bush's re-election campaign by giving money to friends and associates to contribute in their names.
Noe pleaded not guilty to those charges last November and was released after posting a $350,000 bond secured by property from relatives in the Toledo area.
Noe, 51, who was chairman of the Lucas County Republican Party from 1992-95, was selected in 1998 to manage what came to be a $50 million rare-coin investment at the Ohio Bureau of Workers' Compensation.
On paper, the unusual investment earned millions. But after questions surfaced about the coin funds last year, the investment was shut down in May and Noe's lawyers admitted a "valuation shortfall" of up to $13 million.
Attorney General Jim Petro has accused Noe of stealing at least $4 million and as much as $6 million from the coin funds, including a theft on the very first day Noe received state money to invest in 1998.
"Tom Noe pilfered millions intended for injured workers," Petro has said.
Besides coins, Noe used state money to make loans and to buy a host of collectible items including paintings, presidential Christmas cards and autographed footballs.
The collapse of the coin fund launched a sweeping investigation by a task force with agents from multiple federal, state and county offices, and liquidators have been selling off the state coins and other items.
The probe so far has led to ethics charges against Gov. Bob Taft and four other former members of his administration, as well as a complete shake-up of bureau leadership and its investment operation.
Throughout, Noe has maintained his innocence and even appeared at a press conference with his lawyers before Christmas to argue that the coin funds made millions of dollars for the bureau under his management.
But Petro, who filed a civil lawsuit against Noe and others to recover any state money found to be missing, has argued Noe used state money to buy expensive homes, cars, boats and other items.
Petro says the Noe and his wife, Bernadette, already have sold $2 million in assets -- including all their Ohio holdings -- in an effort to establish residency in Florida and avoid any restitution ordered.
Bernadette Noe has said she had nothing to do with the bureau investment and knew of no wrongdoing.
Petro's office has released hundreds of thousands of documents in response to public-record requests showing that Noe mixed state business with his private coin and collectibles operation in Maumee -- sometimes buying and selling coins to himself.
Noe's lawyers have insisted the transactions all were legitimate, but Petro doesn't think the bureau investment ever made a profit -- calling it a Ponzi scheme at one point.
Petro has accused Noe of receiving bureau money and on the same day paying off personal debts, forging checks and even writing checks to himself. The civil case was halted last November until the criminal proceedings are over.
Noe, who was recognized as a "pioneer" for raising $100,000 for Bush's re-election, and his wife have given more than $150,000 in campaign contributions to various GOP candidates and groups over the years, records show.
A host of politicians from President Bush and Taft to a Lyndhurst city councilman have since set the contributions from Noe aside in an escrow fund at the bureau or given the money to charities.
Noe, known for being charismatic and generous, never graduated from college but used his popularity and connections to land appointments to prestigious boards including the Ohio Board of Regents and Ohio Turnpike Commission.
He gave loans to members of the Taft administration and entertained them at gatherings that came to be called the "Noe supper club" at expensive Downtown Columbus restaurants. Noe almost always picked up the tab.
Taft, who once praised Noe's leadership, was convicted last summer on ethics charges of failing to report free golf and other favors from Noe and others, as were his former chief of staff and his executive assistant.
Last week, two former aides to Taft and former Gov. George V. Voinovich also were charged with ethics counts of not reporting loans or meals from Noe.
An investigation of other bureau investments continues as Democrats seek to capitalize on the scandal in statewide elections this year and Republicans seek to distance themselves from it and Noe.
Noe Indicted on 53 Counts. More Republican Culture of Corruption
TOLEDO -- Thomas W. Noe, the coin dealer and prominent Republican contributor whose $50 million state coin investment sparked one of the biggest scandals in Ohio state government history, was indicted today on 53 felonies, including theft of more than $1 million.
The charges include engaging in a pattern of corrupt activity, 11 counts of theft, 11 of money laundering, 8 of tampering with records and 22 of forgery. He could be sentenced to a maximum 175 years in prison, although such a sentence is considered unlikely.
Also indicted in the scheme was Timothy H. LaPointe, Noe's partner in the coin business, who was named in seven counts. He was charged with engaging in a pattern of corrupt acitivity and six counts of tampering with records, said the indictment filed in Lucas County Common Pleas Court.
Noe, through lawyer Jon Richardson, pled not guilty to all charges during an arraignment this morning before Lucas County Common Pleas Judge Thomas J. Osowik.
The judge set bond at $500,000, which Noe's lawyer said Noe will post. Richardson asked for a lesser bond, but the judge declined because of the number of charges involved.
Noe, formerly of Maumee who now lives in Florida, arrived at the Lucas County Courthouse shortly after 8 a.m. this morning with Richardson.
Besides the state charges unsealed today, Noe also faces federal charges of illegally funneling $45,400 to President Bush's re-election campaign by giving money to friends and associates to contribute in their names.
Noe pleaded not guilty to those charges last November and was released after posting a $350,000 bond secured by property from relatives in the Toledo area.
Noe, 51, who was chairman of the Lucas County Republican Party from 1992-95, was selected in 1998 to manage what came to be a $50 million rare-coin investment at the Ohio Bureau of Workers' Compensation.
On paper, the unusual investment earned millions. But after questions surfaced about the coin funds last year, the investment was shut down in May and Noe's lawyers admitted a "valuation shortfall" of up to $13 million.
Attorney General Jim Petro has accused Noe of stealing at least $4 million and as much as $6 million from the coin funds, including a theft on the very first day Noe received state money to invest in 1998.
"Tom Noe pilfered millions intended for injured workers," Petro has said.
Besides coins, Noe used state money to make loans and to buy a host of collectible items including paintings, presidential Christmas cards and autographed footballs.
The collapse of the coin fund launched a sweeping investigation by a task force with agents from multiple federal, state and county offices, and liquidators have been selling off the state coins and other items.
The probe so far has led to ethics charges against Gov. Bob Taft and four other former members of his administration, as well as a complete shake-up of bureau leadership and its investment operation.
Throughout, Noe has maintained his innocence and even appeared at a press conference with his lawyers before Christmas to argue that the coin funds made millions of dollars for the bureau under his management.
But Petro, who filed a civil lawsuit against Noe and others to recover any state money found to be missing, has argued Noe used state money to buy expensive homes, cars, boats and other items.
Petro says the Noe and his wife, Bernadette, already have sold $2 million in assets -- including all their Ohio holdings -- in an effort to establish residency in Florida and avoid any restitution ordered.
Bernadette Noe has said she had nothing to do with the bureau investment and knew of no wrongdoing.
Petro's office has released hundreds of thousands of documents in response to public-record requests showing that Noe mixed state business with his private coin and collectibles operation in Maumee -- sometimes buying and selling coins to himself.
Noe's lawyers have insisted the transactions all were legitimate, but Petro doesn't think the bureau investment ever made a profit -- calling it a Ponzi scheme at one point.
Petro has accused Noe of receiving bureau money and on the same day paying off personal debts, forging checks and even writing checks to himself. The civil case was halted last November until the criminal proceedings are over.
Noe, who was recognized as a "pioneer" for raising $100,000 for Bush's re-election, and his wife have given more than $150,000 in campaign contributions to various GOP candidates and groups over the years, records show.
A host of politicians from President Bush and Taft to a Lyndhurst city councilman have since set the contributions from Noe aside in an escrow fund at the bureau or given the money to charities.
Noe, known for being charismatic and generous, never graduated from college but used his popularity and connections to land appointments to prestigious boards including the Ohio Board of Regents and Ohio Turnpike Commission.
He gave loans to members of the Taft administration and entertained them at gatherings that came to be called the "Noe supper club" at expensive Downtown Columbus restaurants. Noe almost always picked up the tab.
Taft, who once praised Noe's leadership, was convicted last summer on ethics charges of failing to report free golf and other favors from Noe and others, as were his former chief of staff and his executive assistant.
Last week, two former aides to Taft and former Gov. George V. Voinovich also were charged with ethics counts of not reporting loans or meals from Noe.
An investigation of other bureau investments continues as Democrats seek to capitalize on the scandal in statewide elections this year and Republicans seek to distance themselves from it and Noe.
