Listen

BWC Investment Evokes Memories Of Coingate

Apr 22, 2014

The Ohio Bureau of Workers' Compensation has agreed to put 50 million dollars into a Wisconsin-based real-estate investment fund run by a major bundler of campaign contributions to Republican presidential candidates.

The Toledo Blade reports the investment was made in November. The money has yet to be disbursed.  It will go to the 450 million dollar Hammes Partners II fund headed by former health care consultant Jon D. Hammes, a major contributor to former presidents or former presidential candidates George W. Bush, John McCain and Mitt Romney. The investment bears reminders of the scandal-producing bureau investment into rare coins and collectibles overseen by another Bush bundler, Toledo-area coin dealer Tom Noe. Unlike Noe, Hammes reports no state-level political donations.  Bureau spokesperson Melissa Vince says Hammes' political giving did not influence the investment decision.