Monday, February 13, 2006

Coingate's Noe: 53 felony counts, possible 175 years in prison

Thomas W. Noe, the coin dealer and prominent Republican contributor whose $50 million state coin investment sparked one of the biggest scandals in Ohio state government history, was indicted today on 53 felonies, including theft of more than $1 million.
The charges include engaging in a pattern of corrupt activity, 11 counts of theft, 11 of money laundering, 8 of tampering with records and 22 of forgery. He could be sentenced to a maximum 175 years in prison, although such a sentence is considered unlikely.
However, Franklin County Prosecutor Ron O'Brien said Noe faces a mandatory minimum of 10 years behind bars if he is convicted of engaging in a pattern of corrupt activity, a first-degree felony patterned after the federal racketeering law often used against suspected mobsters.
Also indicted in the scheme was Timothy H. LaPointe, Noe's partner in the coin business, who was named in seven counts. He was charged with engaging in a pattern of corrupt acitivity and six counts of tampering with records, said the indictment filed in Lucas County Common Pleas Court.

No comments: