The key figure in the rare-coin investment scandal that cost the Ohio Bureau of Workers' Compensation an estimated $13.7 million was sentenced today to 18 years in prison on state charges.

Tom Noe's sentence will be served after he finishes serving a 27-month federal term imposed in September for illegally laundering more than $45,000 destined for President Bush's re-election campaign in 2004.

Judge Thomas Osowik of Lucas County Court also fined Mr. Noe $213,000 and ordered him to pay both the cost of prosecution, estimated at nearly $3 million, and restitution for the money missing from the Workers' Compensation Bureau's rare-coin fund investment.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.