Ohio Township Official Ousted for Attempting $10 Million Gold Coin Scheme
DAYTON, Ohio — A Miami Township fiscal officer has been permanently removed from public office after attempting to withdraw nearly $10 million in public funds to invest in gold coins, Ohio Attorney General Dave Yost announced this week.
Robert Matthews, the former fiscal officer, faced a swift downfall after Montgomery Court Visiting Judge Jonathan Hein ruled in March 2025 that Matthews had violated both state law and township policies. According to Yost, Matthews withdrew $9.7 million from a township account without the required approval from trustees, aiming to purchase gold coins as an investment.
The audacious plan was foiled when the township’s finance director intervened, alerted by the bank handling the transaction. Had it succeeded, the scheme would have cost taxpayers over $380,000 in transaction fees and an additional $32,000 annually in storage costs for the gold coins.
“He overstepped his authority by a mile, playing King Midas with money that didn’t belong to him,” Yost said in a statement. “Miami Township deserves dependable elected officials who operate within the bounds of the law.”
Under Ohio law, township fiscal officers are restricted to clerical duties, such as maintaining financial records and documenting board meetings. Any expenditure of township funds requires the signatures of at least two trustees, countersigned by the fiscal officer—a process Matthews blatantly bypassed.
Matthews was temporarily suspended from his position in October 2025 following a court order. His removal from office has now been finalized, and he is prohibited from holding any public office for the next four years.
The case has sparked outrage among Miami Township residents, many of whom expressed shock at the brazen attempt to misuse public funds. Local officials have since emphasized their commitment to transparency and accountability in governance.
“This incident serves as a stark reminder of the importance of checks and balances in public office,” said Miami Township Trustee Chairwoman Linda Johnson. “We’ve taken immediate steps to strengthen oversight and ensure such a breach cannot happen again.”
Experts in public administration have pointed out that while such cases are rare, they highlight vulnerabilities in local government systems.
“When you have individuals in positions of trust who disregard the law, it undermines public confidence,” said Dr. Emily Carter, a professor of public policy at Ohio State University. “It’s crucial for municipalities to have robust safeguards in place to prevent misuse of funds.”
The Ohio Attorney General’s Office has also urged other townships to review their financial policies and ensure compliance with state laws. Yost stressed that elected officials must prioritize the public’s trust above all else.
“Public service is a privilege, not a license to act recklessly with taxpayer dollars,” he said. “This case sends a clear message that those who abuse their power will face consequences.”
As the community moves forward, Miami Township officials are focused on rebuilding trust with residents and strengthening financial oversight mechanisms.
For now, the failed gold coin scheme stands as a cautionary tale of the dangers of unchecked authority and the importance of accountability in public office.
— Reported by Nexio News
