Ohio AG Seeks Removal of Township Official Over $9.7 Million Gold Coin Purchase

The Ohio Attorney General's Office went to court on March 9 seeking the removal of Miami Township fiscal officer Robert Matthews, alleging he steered $9.7 million in public funds toward the purchase of gold coins in what the state describes as an improper use of township money.

The civil action places Matthews at the center of a case that raises pointed questions about how public officials handle community finances, and what authority a fiscal officer actually holds when it comes to directing large-scale asset purchases. Gold coins, whatever their intrinsic or numismatic value, are not a recognized instrument of municipal treasury management under Ohio law.

The Attorney General's office alleged that Matthews withdrew funds and instructed the purchase, though the full scope of those instructions had not been made public as of the March 9 hearing. The state's decision to pursue removal rather than simply a financial penalty signals the seriousness with which prosecutors view the alleged breach of fiduciary duty.

Miami Township, located in Ohio, is a local government entity whose fiscal officer is entrusted with managing public accounts according to state statute. That role carries strict obligations around how and where funds may be invested or disbursed. A $9.7 million gold coin acquisition would represent an extraordinary deviation from standard municipal investment practices, which typically require government approval, competitive bidding, and adherence to state-approved investment vehicles.

The case is now before a judge, and Matthews's future in the role depends on the court's findings. If removed, it would mark one of the more unusual public finance controversies in recent Ohio municipal history, not for the dollar figure alone, but for the asset at its center.