CAPITAL COIN FUND, LTD. and CAPITAL COIN FUND, LTD. II

Case Highlights

• Managed wind down of rare coin funds and collected outstanding receivables
• Recovered more than $56 million for the State of Ohio

Case Narrative

DSI was designated by the Attorney General of Ohio and the state’s Bureau of Workers’ Compensation as the Replacement Manager for two large distressed investment funds dealing in rare coins.  The funds – Capital Coin Fund, Ltd. and Capital Coin Fund, Ltd. II – were operated by Ohio coin dealer Thomas W. Noe and were at the center of several major investigations and audits by both state and Federal authorities.  These coin funds received $50 million in investments from the Ohio Bureau of Workers’ Compensation. As Replacement Manager of the Capital Coin Funds, DSI’s role was similar to that of a fiduciary collecting assets for distribution to trust beneficiaries.  Our firm’s charge in this matter was to maximize recovery of the value of assets owned by the Capital Coin Funds, which included not only coins and other inventory, but also loans to coin dealers, equity interests in private operating businesses and claims against third parties for conversion or misappropriation of Capital Coin Fund assets. DSI has transferred back to the State of Ohio more than $56 million in recovered proceeds.