Former BWC Official Faces State and Federal Charges

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State and federal prosecutors have charged the former chief financial officer of Ohio’s troubled insurance fund for injured workers with racketeering and money laundering.

The charges allege that Terry Gasper traded investment opportunities at the Bureau of Workers’ Compensation for money, college tuition and stays at a Florida condominium.

Prosecutors say Gasper received $25,000 from coin dealer Tom Noe as a bribe in return for receiving investment business from the bureau.

Noe was convicted yesterday of illegally funneling donations to President Bush’s re-election campaign. He’s also facing state charges for stealing from the $50 million coin investment he managed for the bureau.

(Copyright 2006 by The Associated Press. All Rights Reserved.)

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