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Noe receives 18-year prison sentence

Convicted  coin dealer Tom Noe was sentenced Nov. 20 to 18 years in state prison for stealing from the $50 million rare-coin fund he administered as an investment for the Ohio Bureau of Workers? Compensation.

Ten years of that sentence is mandatory, meaning there is no chance of parole before that time, and is in addition to the 27 months he is currently serving in federal prison for illegal campaign contributions.

Noe was also fined $213,000 in Lucas County Court in Toledo and ordered to pay the cost of the prosecution, estimated at nearly $3 million, and restitution to the bureau. A prosecutor told Judge Thomas Osowik that the grand total of Noe?s theft amounts to more than $13 million.

Noe was convicted Nov. 13 on 29 charges that included theft, forgery, money laundering, tampering with records and engaging in a pattern of corrupt activity.
 
Lucas County Prosecutor Julie Bates said that Noe rejected a plea bargain nine months ago where he would have received 10 years in prison with the chance of early parole if he pleaded guilty and cooperated with authorities. Noe declined.

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