20 October 2006

Noe Used State Funds to Pay His Bills

The Cincinnati Post reports:

Tom Noe, 52, is accused of stealing from the fund and putting the money into his coin shop and spending it on an extravagant lifestyle. His attorneys say the deal with the state allowed him to use the money however he wanted, including to pay off debts.

Noe... and his partner occasionally asked bookkeeper Jeannie Beck to take money from the state investment "to make up the negative," she said.

It's not just bad news for Noe. It might be bad news for AG candidate Betty Montgomery as well. Her election opponent, Marc Dann, claims that Montgomery failed in her duty as State Auditor by repeatedly ignoring evidence of wrongdoing and waiting at least 13 months before investigating.

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