Yes, Noe Did Commit Fraud!

It is not yet proven, but at a minimum Noe took investment money and spent it very unwisely and has attempted to hide his investment losses (which is fraud). No less than the Franklin County Prosecutor, Ron O'Brien, has stated that Noe stole more than $10 Milion dollars.

“I have reason to believe it is more than just missing assets or lost assets or otherwise,� said Mr. O’Brien, a Republican. “I have reason to believe there is actual misappropriation of state funds involved ... I’m talking about conversion for personal use.�

Noe's own lawyer stated that $10 to 12 million dollars in coins are "unaccounted for" This after they sued the State of Ohio in an attempt to prevent a public inventory of the BWC holdings.

Noe wrote off $850,000 worth of "bad debt" from he OWC fund from loans to Mark Chans. Chans was convicted in 1986 of federal charges of fraud and perjury for laundering drug money. Yet Noe chose to do business with him, not with personal money, but with public money paid for by Ohio taxpayers. Pretty breathtakingly bad judgement, don't you think? He is free to do that with his personal money if he chooses. The last two sentences are my personal opinion, of course, but charge off is fact. The details are actually worse- Chans was spending exorbitant amounts of money on personal expense while filing for bankruptcy. That would be his business, except that Noe was sending him Ohio OWC money at the same time. One illustrative detail- Chans reportedly owns the largest residential swimming pool in the entire state of Kentucky.

Noe is a crook. For him to be held up as a hero, who made money for the state is factually incorrect. He did many other ethically questionable things. For instance, while chairman of the Ohio Board of Regents (he is not an educator, nor does he have a university degree- he is a large political contributor) Noe asked a vice provost at the University of Toledo for University help with a business venture In which Noe had a financial stake. That isn't theft- that is merely wrong and slimy.


Please understand that I feel that this is not a partisan political issue. I object to Noe being defended because the evidence appears to show that he has stolen public money. There is a problem with large political contributors of any stripe being given business or political consideration which even appears to be linked to campaign contributions. This man has put numismatics in the news in a bad way, and we chould be condemning him, not defending him. This last paragraph is my opinion, of course.

And, to show my bona fides, I pledge $100 to any legitmate nonprofit charity, to be administered by Susan (if she accepts) if the state of Ohio recovers at least $55.4 million dollars from this fund- which is the amount that is supposed to be in the fund. This during a time period when the CU $3000 reports a large gain (98-date). Anyone who believes that Noe made money for the state of Ohio want to make a similar pledge if $55M isn't there?
Don