Noe owes $13 million to Ohio
An audit by Ohio's Bureau of Workers Compensation has revealed that Tom Noe and an associate owe the Bureau over $13 million. And, one of Tom Noe's partners in the rare coin business has pleaded not guilty to seven felony counts related to alleged thefts from Ohio's state workers compensation fund. The miscreant, Timothy LaPointe, was escorted from the courtroom in handcuffs before being fingerprinted and released on bond. LaPointe is accused of corrupt activity and six counts of tampering records, proving yet again that cover-ups are always a bad idea.
Meanwhile, more details on Noe's transgressions are coming out every day. The latest scoop is Noe spent the State's funds lavishly on house improvements, entertainment, golf outings, and collectibles such as political pins.
The Toledo Blade has an in-depth review of the Noe case, including a follow-the-money section that is quite interesting. Notably (no pun intended), Noe was appointed to his post as a fund manager for Ohio's BWC despite the fact that he was not qualified; he did not file adequate financial records; and the Bureau allowed Noe's lawyers to write the agreement between Noe and BWC.