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May 28, 2005

Coingate’s invisible assets

Didn’t this set off even the faintest of alarm bells?

Auditors reviewing the inventory of Tom Noe’s $50 million state-funded rare-coin venture in September reported to the Ohio Bureau of Workers’ Compensation that nearly $7 million worth of coins could not be observed because they were “not on site,” according to complete copies of the inventory released last night.
…According to the procedures noted in the audit, “For coins/packages listed but not on site for inspection, we performed no further procedures to verify the existence of the coin/packages.”

Your tax dollars gone AWOL. Note for future audits: if you can’t see it, it’s probably not there.

Posted by Stephen at 4:03 PM in Politics | Permalink | Comments (1) | TrackBack (0)

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The sheeple will gladly eat any shit theyre thrown. I cant wait till we're ruled by the caring hand of Ken Blackwell. Oh delight. He will deliver the competence and heavyhanded leadership we are accustomed to.
Say Amen.

Posted by: Byron Bertram II at June 2, 2005 10:37 PM