21 November, 2006

Tom Noe faces jail

Noe guilty of theft, faces jail
Tuesday, November 14, 2006

This fall, Noe became the flashpoint for Ohio political corruption, a discredited businessman whose face played a central role in dozens of Democratic television ads that ripped Republican candidates, including attorney general candidate Betty Montgomery, whom Noe called a political ally. Montgomery lost a close race to Dann, a Mahoning Valley Democrat.

Prosecutors said Noe siphoned $2.3 million from the BWC in rare coin investment funds. They said Noe used his political influence to obtain the investment funds, beginning with $25 million in 1998, followed by another $25 million in 2001.

I first wrote about Tom Noe in this blog in July of 2005, Notice to entrepreneurs. It was my second posting. I could not believe how flimsy the whole system was. I was outraged that this guy was not only buying State of Ohio Officials, he was also buying into Washington also.

Ten years! He ripped off the Bureau of Worker's Compensation for millions. Aren't drug dealers sentenced more harshly? Aren't there supposed to be checks and balances? Was Tom Noe so successful with the first $25 Million, that the state had no problem giving him the second $25 Million to invest? They did check that, right.

I bet the person in charge of Ohio's BWC hasn't been in the position for longer than 2 years.

I would bet you could quiet certain rooms in Columbus and D.C. by just saying coin and investment in the same sentence.

I will be GLAD to let you know how the sentencing turns out. Maybe we will compare it to some other sentences, just for giggles.


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