Hedge Funds

Losses from rare coin fund sparks Ohio suit

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The loss of millions of dollars stemming from an investment in the Rare Coin Fund by the Ohio Bureau of Workers' Compensation has spurred a lawsuit by a senator in that state.

The suit was filed in the Ohio Supreme Court by Sen. Marc Damn, who is asking that Ohio Gov. Bob Taft release all memos related to investment decisions regarding allocations to the rare coin fund. In May, the rare coin fund closed its doors after it was discovered that some $13 million in rare coins were missing, which prompted an investigation by the Federal Bureau of Investigation.