Noe's ex-bookkeeper testifies

fund transfers were labeled as coin purchases

http://www.toledoblade.com/apps/pbcs.dll/article?AID=/20061020/NOETRIAL/61020002


A former bookkeeper for Tom Noe testified this morning that he was told to label $2.75 million in transfers from state funds to Noe’s personal business as coin purchases, yet never saw any documentation to verify any coins were bought.

In the first specific evidence yet of financial mismanagement with the Ohio Bureau of Workers’ Compensation rare-coin funds managed by Noe, Tom Peters said the transfers were never supported with evidence that Noe’s personal business sold inventory to the state’s two coin funds.

The balance sheet for Vintage Coins and Collectibles, Noe’s business, recorded the transfers as notes payable, meaning they were loans from the coin fund. But the balance sheet of the state-funded Capital Coin Fund recorded them as coin inventory.

Mr. Peters said they should have been identified as notes receivable.

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Thomas Noe, Lucas Co., Ohio mugshot, February 13, 2006
Thomas Noe, Lucas Co., Ohio mugshot, February 13, 2006

Thomas W. Noe (July 1954–) is an Ohio Republican party fundraiser and activist, guilty of money laundering and charged with embezzlement in the "Coingate" scandal. A longtime resident of Toledo, Ohio<1>, Noe is a former member of the Ohio government in the United States and has had an impressive array of jobs and positions within the government of Ohio and even the federal government. He is also a prominent Republican party fundraiser and is actively involved in politics, serving as chairman of the 2004 Bush-Cheney election campaign in Northwest Ohio and a former chairman of the Lucas County Republican party, also in Ohio. Apart from his political activities Noe is also an avid coin dealer and owns various coin dealing companies, such as Capital Coin and Vintage Coins & Collectibles, as well as their subsidiaries.

Thomas Noe is a Bush Pioneer fundraiser and has been involved in or connected to many different political scandals, particularly during the Republican Bush administration, involving a wide range of scandals including elections, fundraising, government investment, and conflicts of interest. He is under indictment in what is popularly known as the Coingate scandal, and, separately, pleaded guilty on charges in May 2006 of money laundering in connection to his political fundraising.

http://en.wikipedia.org/wiki/Thomas_Noe

I think Tom will be recalled in books yet to be written, as the beginning of the end for the republican stranglehold on Ohio, if not all of America.

If he drags down too many others with him, I think he may not survive his prison time.

He is a small timer, not like Abramoff, but he likes to drop names from what I'm told.

....remember the Romans???