More on “Coin Gate:”
The scandal starts back in 1997, when the state’s Bureau of Workers Compensation, which provides workplace injury insurance for Ohio’s workers, decided to start an “emerging managers” program that would allow outside managers to invest some of the fund’s $18 billion in assets. With then-Governor George Voinovich’s direct appointee at BWC calling the shots on who got the money, the $500 million set aside for the program offered a jackpot of prime contracts that could be doled out to supporters. In all, one hundred fifty-four fund managers were contracted to invest BWC money under Voino