COLUMBUS, Ohio, May 27 - For nearly a decade, Thomas Noe has been the Republican Party's man to see in northwest Ohio, a confidant of governors and a prodigious fund-raiser for legislators, judges and just about every Republican statewide elected official.
He also happened to be a dealer in rare coins. And in 1998, the Ohio Workers' Compensation Bureau agreed to invest in a rare-coin fund that he controlled as a way to hedge its holdings in stocks and bonds, an investment that experts have called highly unorthodox.
But this week, Mr. Noe's lawyers said that as much as $13 million of the state's $50 million investment in his two funds could not be accounted for. Mr. Noe, meanwhile, has become the focus of at least six investigations or audits involving either his handling of the coin investments or his campaign fund-raising. Federal investigators are also looking into his contributions to President Bush's 2004 campaign as a "Pioneer," raising more than $100,000.
NOTE: Confined Space is back after a short 10-year break and can now be found at: Confined Space.
WHAT IS THIS?
Workplace issues, Occupational Safety and Health (OSHA), Workplace Safety, Public Health, Environment and Political Information that everyone should know.
What happens inside the Beltway matters outside the Beltway.
That's why they try to keep it secret.
Saturday, May 28, 2005
Workers Comp Scandal!!
Wait a minute, you mean this isn't not about workers who cheat?