Ohio

‘Shocking’: Dave Yost details secret texts and private emails exchanged at STRS Ohio

Published

11 months ago

March 21, 2025

‘Shocking’: Dave Yost details secret texts and private emails exchanged at STRS Ohio

A former State Teachers Retirement System board member relentlessly advocated for a firm looking to do business with the pension fund, even after the pension staff rejected the firm, according to new records filed by Ohio Attorney General Dave Yost.

Ten months ago, Yost sued to remove two members of the State Teachers’ Retirement System board, based largely on a memo from an anonymous whistleblower.

In a court filing this week, Yost and his team put more details into the public record and said they found a “shocking” level of covert coordination and communication with a firm looking to do business with the pension fund.

Wade Steen, a now former board member who is one of the targets of Yost’s lawsuit, sought to get at least part of the lawsuit dismissed.

Yost responded with a 16-page memo that accuses Steen of prioritizing secrets over transparency, failing to preserve records, failing to disclose his ties with QED, which sought to do business with STRS, and relentlessly advocating for QED’s proposal.

Steen served on the STRS board as an appointee of Gov. Mike DeWine. In May 2023, DeWine removed Steen and appointed a replacement.

Steen sued to get his seat back and a non-profit organization, Ohio Retirement for Teachers Association, paid the legal bills for Steen and STRS Board Chairman Rudy Fichtenbaum. That arrangement may conflict with state ethics laws.

Ohio Ethics Commission Director Paul Nick said he could not comment on ongoing investigations.

Steen won reinstatement but his term expired in September 2024.

The lawsuit against Steen and Fichtenbaum alleges that they violated their fiduciary duty to the pension system by working behind the scenes for QED, a relatively new investment firm.

Steen and Fichtenbaum have said they were searching for ways to cut pension fund costs and boost investment returns, to benefit retirees and teachers.

In early 2020, QED, formed by former state treasurer officials Seth Metcalf and J.D. Tremmel, pitched STRS board members and staff to partner on an investment opportunity. The strategy called for earmarking up to $65 billion, which could generate a $4 billion return.

In May 2020, STRS managers rejected the deal, in part because QED lacked a track record. In February 2021, the pension fund’s outside consultant, Cliffwater, also rejected the proposal.

The next month, QED told STRS that it no longer wanted to do business with the pension fund. But Steen and Fichtenbaum kept working with QED to advance the proposal, according to Yost. In November 2021, the duo made a presentation to fellow board members on QED’s proposal.

QED aligned with the Ohio Retirement for Teachers Association to help elect new board members who might be more open to the new strategy.

Steen has said in court filings that since he’s already off the STRS board, the lawsuit to remove him is moot. He has said he wants STRS to cut expenses and find investment opportunities that would yield higher returns. STRS staff stymied his efforts to get information to help improve the system.

Last year, Fichtenbaum declined to comment on the lawsuit but said in an online statement: “I have done nothing wrong and will continue to fight for the interests of STRS members.”

What evidence did Yost uncover?

Once STRS Chief Investment Officer Matt Worley rejected the QED pitch, Steen began challenging STRS’s returns, calculations and other data, according to the lawsuit.

At the same time, Steen communicated regularly with Metcalf and Tremmel via texts, personal email accounts and Signal, a private chat system that automatically erases messages. After STRS staff told QED no, these messages were exchanged:

Sept. 3, 2020: Metcalf tells Steen it’s best to use personal email addresses, not the STRS email accounts.
Sept. 20, 2020: Metcalf sends the QED business plan to Steen’s personal email.
Oct. 14 and Nov. 23, 2020: Metcalf ghostwrites emails for Steen.
Oct. 15, 2020: Metcalf sends Steen instructions during a pension board meeting.
Nov.13, 2020: Steen asks Metcalf for a list of questions or issues he could raise in the following week.
Nov. 19, 2020: Metcalf noted he’d email motions for a board member to read at the meeting.
Dec. 16, 2020: Metcalf sends a memo to Steen’s personal email.
Jan. 8, 2021: Steen asks Metcalf for input on changing STRS board policies.
Aug. 16, 2021: Tremmel provides info to Steen and Fichtenbaum for an STRS staff meeting.
Aug. 15, 2022: Metcalf tells Steen he sent him time-sensitive message via Signal.
Sept. 6, 2022: Steen seeks to coordinate a consistent message with Metcalf and Tremmel.
Oct. 19, 2022: Metcalf and Steen talk about exchanging messages and documents via Signal.

While Steen is no longer on the board, Yost wants to permanently block him from returning.

What’s happening at STRS?

The Ohio Retirement for Teachers Association and its allies on the board are pushing for several changes. They want to reinstate regular cost of living adjustments for retirees, cut down on administrative expenses and staff bonuses, dial back on higher-risk investments such as private equity funds, and increase transparency.

The board is made up of five teachers and two retired teachers elected by system members, three investment experts appointed by the governor, state treasurer, Ohio General Assembly and the director of the Department of Education and Workforce.

The board oversees about $95 billion invested on behalf of 500,000 teachers and retirees.

Board members aren’t compensated, and they have a fiduciary duty to act in the best interest of the system. State law allows the attorney general to bring a civil case to remove public pension board members if they violate that duty.

The attorney general is the legal counsel for the pension systems.

Laura Bischoff is a reporter for the USA TODAY Network Ohio Bureau, which serves the Columbus Dispatch, Cincinnati Enquirer, Akron Beacon Journal and 18 other affiliated news organizations across Ohio.

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Ohio

Ohio State stud Carnell Tate might be the ideal ‘game-changer’ that Giants need

Published

2 hours ago

February 28, 2026

Press Room

Ohio State stud Carnell Tate might be the ideal ‘game-changer’ that Giants need

INDIANAPOLIS — There are so many questions an NFL team can pose to a top prospect and so many of them have to do with how he will handle the step up to the next level.

And how will he deal with waiting his turn?

These questions do not really apply to Carnell Tate.

Not after the gauntlet he had to pass through in college, trying to find his way and making incremental rises on a depth chart overflowing with talent at his position.

“The competition there, we’re all pushing to be the best receiver on the field that day and that practice,’’ Tate said Friday morning at the NFL Scouting Combine, “and typically, when you’re the best receiver at Ohio State, you’re the best receiver in the country.’’

True, that.

Tate figures to be in play for the Giants with the No. 5 pick in the NFL Draft.

He is widely considered the top receiver in this class — there are certainly Jordyn Tyson supporters out there — and where the Giants prioritize aiding their offense with bolstering their defense will go a long way in determining if they select a wide receiver with their top pick for the second time in three years.

Where they are situated, one or both Ohio State studs, safety Caleb Downs or linebacker Sonny Styles, should be on the board — another Ohio State defender, edge rusher Arvell Reese, could go to the Jets at No. 2.

The Giants unquestionably need another prime target for Jaxson Dart but, when healthy, they already have a No. 1 receiver in Malik Nabers, who was the No. 6 overall pick in 2024.

Investing so much draft equity in another one might not be the most balanced way to build the team in John Harbaugh’s first year as the head coach.

Or, it might be just the ticket to launch the offense.

“You’re always going to want to add more explosiveness to your offense, guys that score touchdowns, wherever that comes from: running back, receiver, tight ends, whatever it may be,’’ general manager Joe Schoen said. “That will be something we’ll look for.’’

There should not be much, or any, concern that Tate will not be a supportive and obliging running mate for Nabers, who made it into only four games last season before a devastating knee injury — he tore his right ACL and meniscus — left Dart without his only lethal weapon.

Tate is not one of those youngsters accustomed to being the top guy during his college experience.

Tate arrived as a five-star recruit in 2023 but how the heck was he supposed to break into the starting lineup with Marvin Harrison Jr. and Emeka Egbuka — both future first round picks — ahead of him?

In 2024, Tate was overshadowed by freshman phenom Jeremiah Smith.

Tate had to wait for his opportunities and while he did, he concentrated on becoming a better all-around player, developing his ability as a blocker on the perimeter.

In three seasons, Tate totaled 121 receptions for 1,872 yards.

He notched nine of his 14 touchdowns during the 2025 season.

Tate is often likened to Chris Olave, another former Buckeyes wideout.

Olave was a 2022 first-round pick of the Saints and has surpassed 1,000 receiving yards in three of his four NFL seasons.

Jaxon Smith-Njigba (Seahawks) and Garrett Wilson (Jets) are also former Ohio State receivers tearing it up in the NFL.

“It means a lot to me and it’s also a lot on your shoulders,’’ Tate said of the legacy. “Now you got to be the next one to come out there and put on for the school and carry the Receiver U.’’

Tate lining up on one side and Nabers — who is expected to be fully recovered in the spring or by training camp — lining up on the other side would be quite a combination for Dart.

“It would be great,’’ said Tate, who this week had a formal meeting with the Giants. “It would be a great opportunity, especially playing in New York. Big showcase. I’d love to go out there and play in New York.’’

Wan’Dale Robinson, mostly a slot receiver, is an impending free agent.

If he does not return, it would drain the passing game of the 92 receptions for 1,014 yards he contributed in 2025.

Veteran Darius Slayton is coming off a poor seventh year with the Giants.

At 6-foot-3, Tate has ideal height and he is lean at 195 pounds.

He will run the 40-yard dash in Indy but otherwise wait for his Pro Day to work out for NFL executives, coaches and scouts.

Without sounding boastful, Tate does not lack confidence.

“I think my game brings it all to the table,’’ he said. “I got the contested catch, I got the route-running and I also bring it in the run game, a lot of receivers don’t do that. I’m able to impact the game with or without the ball in my hands.

“If you want a game-changer, you got one right here.’’

The best wide receiver in this draft class?

“Me, no question,’’ Tate said.

“Whatever you need to do, I got it.’’

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Ohio

Ohio woman sentenced in $775,000 Medicaid scheme

Published

14 hours ago

February 27, 2026

Press Room

COLUMBUS — A Lake County woman was sentenced this morning to jail time and ordered to pay $775,000 in restitution for fraudulently billing Medicaid, Ohio Attorney General Dave Yost announced. “She inflated her earnings through brazen fraud, but her scheme burst wide open when our investigators got the case,” Yost said. “Cheating taxpayers comes with […]

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Ohio

‘Catastrophic’ Ohio farm fire kills 6,000 hogs and pigs, officials say

Published

1 day ago

February 27, 2026

Press Room

‘Catastrophic’ Ohio farm fire kills 6,000 hogs and pigs, officials say

A wind-swept blaze at an Ohio hog farm complex caused “catastrophic” damage and left thousands of pigs dead, fire officials said, marking another devastating barn inferno contributing to the deaths of millions of animals in recent years.

The massive fire occurred on Wednesday, Feb. 25, at Fine Oak Farms in Union Township, Madison County, located west of Ohio’s capital of Columbus, according to the Central Townships Joint Fire District. Fire crews received a report of a barn fire shortly before 12 p.m. local time.

The incident was later upgraded to a commercial structure fire after Chief Brian Bennington observed a “large column of smoke visible from a distance” and requested additional resources. Multiple local fire departments, along with several other emergency agencies, were called to the scene.

“What our crews encountered upon arrival was a very difficult and heartbreaking incident,” Bennington said in a statement on Feb. 26.

The fire chief described the facility as a large farm complex used for hog production consisting of five large agricultural buildings, including four that housed about 7,500 hogs. When crews arrived at the scene, they found two of the barns engulfed in flames, Bennington said.

Crews were challenged by windy conditions that significantly impacted fire suppression efforts, according to Bennington. Three barns were destroyed in the fire, and about 6,000 hogs and pigs were killed.

Firefighters saved one barn and about 1,500 hogs, the fire chief added. No injuries were reported in the incident.

Bennington highlighted the assistance of the farming community throughout Madison and Clark counties, as multiple farmers responded with water trucks to help with water supply efforts. “Rural Ohio’s agricultural community is tight-knit, and they truly step up when one of their own is in need,” he said.

The incident remains under investigation, and the Ohio State Fire Marshal’s Office will determine the fire’s cause and origin. Bennington said there is no suspicion of arson and no ongoing threat to the public at this time.

‘Rapidly changing fire behavior conditions’

Heavy smoke from the fire could be seen for miles, and Bennington said first-arriving units were met with fire conditions coming from the opposite side of the hog farm complex.

The fire chief noted that the incident required extensive water-shuttle operations due to rural water-supply limitations in the area. Crews attempted to cut the fire off by deploying multiple handlines and using an aerial device, but “faced extremely challenging conditions throughout the incident,” according to Bennington.

Sustained winds of about 20 mph with gusts up to 35 mph accelerated the fire’s spread, Bennington said. The high winds made it “extremely difficult” to contain forward fire progression and created “rapidly changing fire behavior conditions” across the agricultural complex, he added.

After about four to five hours, the fire was contained by fire personnel from four different counties, according to the fire chief.

“Unfortunately, the fire resulted in catastrophic damage to the business,” Bennington said in an earlier statement on Feb. 25. “A significant portion of the agricultural structures were destroyed.”

Latest major fire to impact an Ohio hog farm

The incident at Fine Oak Farms is the latest major fire to cause significant damage to an Ohio hog farm in recent years.

In August 2024, about 1,100 pigs were killed in Versailles, a village about 50 miles northwest of Dayton, Ohio, according to data from the nonprofit Animal Welfare Institute. In March 2022, about 2,000 hogs died in a barn fire at Kenneth Scholl Hog Farm in Brown Township, just west of Columbus.

Before the fire at Fine Oak Farms, the Animal Welfare Institute reported that other barn fires in Ohio this year killed 162 sheep, horses, cows, chickens, and other animals.

Hundreds of thousands of animals killed in barn fires each year

Data from the Animal Welfare Institute shows that hundreds of thousands of animals are killed in barn fires across the country each year. Since 2013, over 9 million farm animals have been killed in barn fires, according to the organization.

As of Feb. 26, the Animal Welfare Institute reported that 118,738 farm animals have died in U.S. barn fires this year, including the incident at Fine Oak Farms. The majority of farm animals killed were chickens in separate incidents in North Carolina and Georgia in January, and another incident in Missouri earlier this month.

“Most fatal barn fires occurred in colder states, particularly the Upper Midwest and the Northeast. New York, Wisconsin, Pennsylvania, Ohio, and Illinois had the highest number of barn fires, respectively,” according to the organization. “The amount of cold weather a state experienced appeared to be a greater factor in the prevalence of barn fires than the intensity of a state’s animal agriculture production.”

In an updated report on farm animal deaths due to barn fires in 2025, the Animal Welfare Institute said more than 2.53 million farm animals were killed in barn fires from 2022 to 2024. The organization noted that the high death toll was “driven primarily” by fires at large operations that housed several thousand to over 1 million farm animals.

The majority of deaths in these incidents during that period, over 98%, were farmed birds, such as chickens and turkeys, according to the Animal Welfare Institute. But in 2023, a massive fire at a west Texas dairy farm became the single deadliest event involving livestock in the state’s history and the deadliest cattle fire in America in at least a decade.

18,000 head of cattle perished in the fire at the South Fork Dairy farm near Dimmitt, Texas. At the time, Roger Malone, who is the former mayor of Dimmitt, called the incident “mind-boggling.”

“I don’t think it’s ever happened before around here. It’s a real tragedy,” Malone said.

Contributing: Rick Jervis, USA TODAY; Shahid Meighan, Columbus Dispatch

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