Noe's Lawyer Says Taft Knew About Coin Fund In 2001

Noe's lawyer says Taft knew about coin fund in 2001

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8/19/2005, 2:40 p.m. ET
The Associated Press

COLUMBUS, Ohio (AP) — A prominent Republican fundraiser who invested state money in rare coins discussed the arrangement with Gov. Bob Taft in May 2001, contradicting the governor's assertion that he didn't learn of it until this year, the fundraiser's lawyer said.

Taft has claimed that until he read newspaper reports in April, he was unaware of Tom Noe's $50 million investment for the state insurance fund for injured workers.

"Tom Noe and Bob Taft had a face-to-face meeting in May 2001 in Toledo, at which time Mr. Noe described for Gov. Taft his operation of Coin Fund One for the (Ohio) Bureau of Workers' Compensation," Noe's lawyer, William Wilkinson, told The Columbus Dispatch for a story Friday.

Wilkinson declined to elaborate.

Noe and Taft golfed together on May 13, 2001, in Toledo, records show. Noe received $25 million for the investment in 1998 and another $25 million two months after the golf outing.

Asked for a response to Wilkinson's comments, Taft spokesman Mark Rickel reiterated the governor's previous assertion that he didn't know about the coin investments until this year. "He's said all along he was not made aware of the contract until April," Rickel said Friday.

Taft was convicted Thursday of four misdemeanors for failing to report gifts worth nearly $6,000, ethics charges that surfaced amid the scandal over losses from the state's investments in rare coins and other funds.

The governor said Noe "made a great effort to conceal" that he managed the coin investments and the two did not discuss them on the golf course.

He said Noe, a coin dealer from suburban Toledo, did not disclose his investment on applications to the governor's office for appointments to boards and commissions.

Wilkinson told The (Toledo) Blade that Taft's statement that Noe tried to hide his role as investment manager was absurd, pointing out Noe went through a public process to become a bureau fund manager.

Wilkinson said Taft "either knew or didn't want to know."

Noe reported the investment on his annual financial-disclosure forms filed with the Ohio Ethics Commission, Wilkinson said.