US SEC charges AEHI with fraud in bogus nuclear plant project

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Source: Platts

The US Securities and Exchange Commission Thursday charged Alternate Energy Holdings, with fraud, labeling a plan to build a greenfield nuclear plant in Idaho "a scheme to personally enrich the CEO at the expense of investors."

The SEC filed its complaint in US District Court of Idaho two days after suspending trading of AEHI shares, which are quoted on the OTC Bulletin Board and on the Pink Sheets under the ticker symbol AEHI.

The SEC said Tuesday the trading halt was "because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the stock sales of certain AEHI officers, the status and viability of funding to build a nuclear reactor, and executive compensation."

In its filing of charges Thursday, the commission said AEHI President and CEO Donald Gillispie had raised millions of dollars from individual investors in Idaho, elsewhere in the US, and Asia "by making misleading statements about the viability of AEHI, which has no realistic possibility of building a multi-billion-dollar nuclear reactor. AEHI has never had any revenue or product."

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Read more: http://www.platts.com/RSSFeedDetailedNews/RSSFeed/ElectricPower/8315033

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AEHI has filed sleazy frivolous lawsuits and SLAPP lawsuits against people speaking out against it.

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1. Dan Yurman, a "pro-nuke", called AEHI's plans "baloney"

"the first example in my blog post is a penny stock outfit that until only this past January was not even registered with the SEC, but claimed to be engaged in building a 1,600 MW nuclear power plant in Idaho. That's baloney."
http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=115&topic_id=195659&mesg_id=195831

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2. AEHI filed frivolous SLAPP lawsuits against Peter Rickards and Andrea Shipley

Don Gillespie is head of AEHI.
What an asshole.
I hate assholes.
I hope he rots in jail.

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3. AEHI's Don Gillispie: "Our Site Has No Chance Of Approval By NRC"

http://seekingalpha.com/instablog/154453-joe-lucid/119682-aehi-s-don-gillispie-our-site-has-no-chance-of-approval-by-nrc

AEHI's Don Gillispie: "Our Site Has No Chance Of Approval By NRC"
Dec 10, 2010 12:03 PM

I recommend to read the post at lucidaehi.blogspot.com for better formatting and pictures!

Forgive me if we have to switch down a gear today. But after revealing AEHI CEO Don Gillispie's most serious securities fraud yet discovered yesterday, topping the earlier revelations of two (here and here) other instances of severe violations of federal securities laws we'll have to make do with simple perjury today.

Maybe I wouldn't have bothered today since this is relatively minor by Don Gilllispie's standards. But since Martin Johncox accused me of perjury and called me a liar for using my name, Joe Lucid, in my written testimony (note: he had no comments on the testimony itself!) I think some retribution is appropriate and necessary.

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My my my!
You just can't trust the nuclear industry!