DSI was designated Replacement Management by the Ohio Attorney General and the Ohio Bureau of Workers’ Compensation (BWC) to wind down Capital Coin Fund I and Capital Coin Fund II and to recover $50 million invested in the coin funds on behalf of BWC.
The BWC appointed DSI to manage the two troubled coin funds, which had been operated by Ohio coin dealer Thomas W. Noe and were the center of several major investigations by state and federal authorities, ultimately leading to more than 22 individuals pleading guilty to various felonies and misdemeanors, including the then-sitting Governor of Ohio, Bob Taft.
- Managed wind down of rare coin funds with $50 million state investment
- Recovered monies in excess of the State’s original investment
DSI analyzed all of the data related to the investments across a wide array of assets and constructed a plan to ensure the highest recovery and net return to the State. DSI also investigated all potential causes of action and then supervised the resultant litigation stemming from Mr. Noe’s misappropriation and mismanagement of the funds.
As a result of these efforts, DSI was able to return to the State the entire $50 million investment, plus additional sums to defray the cost of the investigation and collection efforts.