Ohio’s workers comp scandal keeps getting better and better. One of the principal figures (Tom Noe, aka “the perp”) has just been busted after a 10 month investigation that uncovered a very close relationship between the perp and the Governor’s chief of staff and a theft of over a million dollars
The perp a former investment manager for the Ohio state workers comp fund, pled not guilty to 53 charges, including stealing more than $1 million from the state’s work comp reserves.
According to the AP, the charges:
“conclude a 10-month investigation by state and federal prosecutors into the $50 million rare-coin investment Mr. Noe managed for the state insurance fund for injured workers.
The investigation led to sweeping changes at the state workers’ compensation bureau, an agreement by Gov. Bob Taft and two former aides to plead no contest to ethics charges, and pending charges against two other former Taft aides.
Mr. Noe is accused of stealing from the investment by writing checks, sometimes for hundreds of thousands of dollars each, knowing that the money was not his to use.
His lawyer has acknowledged a shortfall of up to $13 million of the money Mr. Noe invested for the Ohio Bureau of Workers’ Compensation.
One of the charges in Monday’s indictment accuses Mr. Noe of stealing at least $1 million. The state attorney general has accused him of stealing up to $6 million.
Mr. Noe, 51, already faced charges of using colleagues and associates to funnel $45,000 illegally to President Bush’s re-election campaign. The new counts include forgery, theft and money laundering.”
This has it all – lost treasure, political backroom deals, corruption in high places, theft from injured workers, and political scandal at the state and Federal level.
What does this mean for you?
Yet another reason to love the workers comp business; as if you needed one.
Feb
14
