(12-26-25) Franklin County Court of Common Pleas Judge Karen Held Phipps is set to decide if State Teachers Retirement System (STRS) board chair Rudy Fichtenbaum should be removed from his position, and if he and former board member Wade Steen should be banned from ever returning to public pensions.

The scandal centers on Steen and Fichtenbaum and their relationship with startup investment firm QED Technologies, run by former Ohio Deputy Treasurer Seth Metcalf and Jonathan (JD) Tremmel.

Ohio Attorney General Dave Yost submitted its closing argument on the case.  Whistleblowers documents claim that they tried to convince STRS members to partner with them and provide them with $65 billion.