AP - A politically connected coin dealer charged with stealing from the state has remained mum about the accusations over the last year.
Testimony to begin in coin dealer case
By JOHN SEEWER, Associated Press Writer
1 hour, 35 minutes ago
A politically connected coin dealer charged with stealing from the state has remained mum about the accusations over the last year.
But lawyers for Tom Noe, once a go-to guy for the Republican Party, were to begin explaining his side Monday during opening statements at his trial.
Noe has pleaded not guilty to theft, money laundering, forgery and corrupt activity charges. He is accused of stealing more than $2 million and spending it on his business and renovating his home in the Florida Keys.
The scandal has become a dominant issue in Ohio over the last 18 months and has contributed to trouble for Republicans who have dominated the state since 1990.
Democrats hoping to capitalize on the investment scandal say Noe was selected to oversee a $50 million state investment in rare coins because of his political ties. Prosecutors allege he stole from the fund.
Noe, once a member of state boards that oversee the Ohio Turnpike and Ohio's public universities, was a top GOP fundraiser who gave more than $105,000 to Republicans including President Bush and Gov. Bob Taft during the 2004 campaign.
His rise to prominence came around the time when the Ohio Bureau of Workers' Compensation began the rare coin investment with Noe in 1998. He initially received $25 million to invest, followed by another $25 million in 2001.
Investigations into the coin investments led to separate ethics charges against Taft, who pleaded no contest last year to failing to report golf outings and other gifts.
Now Democrats are poised to take back the governor's office and are in position to win a majority of the five statewide races, according to recent polls.
The trial is expected to last at least six weeks, through Election Day on Nov. 7.
10-16-2006, 09:50 AM
