Speaking of schadenfreude, Coingate kingpin Tom Noe was formally indicted on February 14.  He was indicted on 53 felony counts which carry a combined maximum sentence of 172½ years in prison.  Happy Valentine's Day, Tom! 

From toledoblade.com

Within hours of gaining control of $25 million from the state of Ohio in 1998, Tom Noe began stealing it, according to a 53-count indictment unsealed yesterday.

He did not stop, the indictment states, until state officials shut down his coin funds last spring.

The indictment by a Lucas County grand jury alleges that Mr. Noe laundered and stole more than $3 million from the rare-coin investment funds he managed for the Ohio Bureau of Workers' Compensation.  (full story)

Let's not forget that Noe is also facing separate charges for funneling thousands into Ohio's Bush-Cheney re-election campaign.

And whatever you do, make sure you don't confuse Tom Noe with Ohio Representative Bob Ney, who is under investigation over allegations that he accepted bribes from D.C. supercrook Jack Abramoff.  Late last month, Ney announced he will run for re-election despite the swirling allegations of corruption and impropriety.  Tell me, folks...Do we call that "chutzpah" or "audacity"?  Hell, I just can't decide.