Thursday, October 27, 2005
CoinGate - Tom Noe indicted by Feds.
From the Toledo Blade we get the first federal indictment of Tom Noe:
A federal grand jury has indicted Tom Noe, the former Toledo-area coin dealer at the center of a state investment scandal, of illegally laundering money into President Bush’s re-election campaign.As you remember from previous post, boys and girls, Tom was shown to have made contributions from the same account that held state funds for his coin fund. Looks like the fun is just beginning.
The three-count indictment states that beginning in October 2003, Mr. Noe contributed to President Bush’s election campaign “over and above the limits established by the Federal Election Campaign Act."
“He did so, according to the indictment, in order to fulfill his pledge to raise $50,000 for a Bush-Cheney fund-raiser held in Columbus, Ohio, on Oct. 30, 2003,” Gregory White, the U.S. Attorney for the Northern District of Ohio, announced at an afternoon news conference.
The two other counts were for conspiracy and filing false statements.
One of the indictment accused Mr. Noe of giving money to 24 friends and associates, who then made the campaign contributions in their own names. In that way, he skirted the $2,000 limit on individual contributions, prosecutors said.
“The indictment also alleges that Noe wrote several checks in the amounts slightly less than the maximum allowable amount so as to avoid suspension. All together, Noe allegedly contributed $45,400 of his own money through 24 "conduit” donors, the prosecutors said.
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