Workers’ Compensation Chief resigns, as state learns loss of rare coins could go over $12 million

Governor Bob Taft has accepted the resignation effective June 3 of James Conrad as Administrator of the Ohio Bureau of Workers’ Compensation. The departure of Mr. Conrad, who has headed the injured worker insurance fund since 1995, comes amid investigations over BWC’s investment of $55.4 million in rare coins through Republican campaign contributor Thomas Noe. State officials disclosed late Thursday that Mr. Noe’s attorney advised them up to $12 million of the coin fund’s assets are unaccounted for. State and federal authorities are coordinating efforts regarding potential criminal charges. The governor said he accepted the resignation with real sadness and will announce a replacement next week.