TOLEDO, OH (WTOL) - The Ohio Parole Board on Friday rejected the clemency application for Tom Noe, the former Toledo-area coin dealer who was convicted in 2006 of stealing $13.7 million from a rare-coin investment fund tied to the Ohio Bureau of Workers Compensation that he managed.
According to a statement on behalf of Bernadette Restivo, Noe's ex-wife, the reason the parole board rejected clemency is they felt the severity of the crime justified the sentencing.
"I am appalled that someone like serial killer Anthony Cook, who murdered how many people, is looking at being released from prison while the same court and the same county prosecutor that worked that deal continues to persecute Tom who actually made a profit for the State of Ohio," Restivo's statement said. "I notified Tom this afternoon of the parole board's decision. He is very disappointed. He is speechless. He's just trying to figure out where do we go from here. I have faith that Governor John Kasich, who is not bound by the parole board's recommendation, will take an independent look at Tom's case and realize that justice has already been served by Tom's incarceration of nearly 12 years."
The clemency application was filed on Noe's behalf on Jan. 31. If Kasich does not pardon Noe, the soonest Noe can apply for clemency is June 1, 2020.
Noe's sentence included two years in federal prison, which he completed, as a result of his conviction for illegally laundering campaign contributions to George W. Bush's re-election campaign. He is currently halfway through his 18-year state sentence at Marion Correctional Institution. Of the 29 charges of which he was convicted, 25 of were felonies. The state put forth that Noe skimmed the money from the $50 million rare-coin investment fund he managed for his own use and then falsely adjusted the inventory records.