Monday, February 13, 2006

Indicted

From the Toledo Blade:

Tom Noe was charged today by a Lucas County grand jury with 53 felony counts relating to his dealings with $50 million coin funds he managed for the Ohio Bureau of Workers Compensations.

An indictment unsealed this morning at the Lucas County Courthouse included six counts of money laundering, four counts of grand theft, three counts of aggravated theft, and one count of engaging in a pattern of corrupt activity.

Mr. Noe is in the courthouse and is expected to surrender to authorities.

The Lucas County grand jury also returned a seven-count indictment against Mr. Noe’s business partner, Timothy Lapointe.

Mr. Lapointe of Maumee was indicted on six counts of tampering with records and one ocunt of engaging in a pattern of corrupt activity.

Mr. Noe and Mr. Lapointe jointly ran Vintage Coins and Collectibles in Monclova Township.

The charges mark the first felony charges since mulitple law enforcement agencies began investigating Mr. Noe following The Blade’s revelations that he was investing state money in rare coins.

The state invested a total of $50 million with Mr. Noe’s Capital Coin funds, beginning with $25 million in 1998.

Mr. Noe has been involved with the Ohio Republican party since 1991. Here’s a chronology.

This will make the 2006 election very interesting in the Buckeye State.