Miami Township fiscal officer removed after attempted $10M gold coin purchase

A Montgomery County judge has removed Miami Township’s fiscal officer from public office after he tried to invest nearly $10 million of the township’s funds in gold coins, Ohio Attorney General Dave Yost announced.
 
“He overstepped his authority by a mile, playing King Midas with money that didn’t belong to him,” Yost said. “Miami Township deserves dependable elected officials who operate within the bounds of the law.”
 
Visiting Judge Jonathan P. Hein ruled that Robert Matthews violated state law and township policy in March 2025 when he withdrew $9.7 million from a township investment account without approval from trustees. The ruling follows a one-day trial earlier this month.
 
Matthews planned to invest the money in gold coins, a move that would have cost the township more than $380,000 in transaction fees and $32,000 in annual storage fees. The township’s finance director blocked the transaction after the bank alerted him to the attempted purchase.
 
Ohio law limits township fiscal officers to clerical duties, such as keeping a record of accounts, transactions and board meetings. The law also prohibits spending of township funds without the signatures of at least two trustees, countersigned by the fiscal officer.
 
In October 2025, Yost secured a court order temporarily suspending Matthews from his elected duties while the state sought his permanent removal.
 
With his removal finalized, Matthews is barred from holding any public office for four years. Miami Township can now take steps to appoint a new fiscal officer.
 
In his previous role as Ohio Auditor of State, Yost spearheaded the Fiscal Integrity Act, a law that established the removal process for fiscal officers accused of reckless conduct.