Bogus! SEC Says of 'Nuclear Reactor'

[bananas]

Source: Courthouse News Service

A 67-year-old man and his 36-year-old sweetie bilked investors of millions of dollars for a bogus "multibillion-dollar nuclear reactor," that never existed and never will, the SEC says. It sued Donald Gillispie and Jennifer Ransom, top dogs at so-called Alternate Energy Holdings, in Federal Court.

Gillispie and Ransom raked in the bucks through "misleading statements about the viability of AEHI, which has no realistic possibility of building a multibillion-dollar nuclear reactor," the SEC says in its complaint. "AEHI has never had any revenue or product." (AEHI is Alternate Energy Holdings Inc.)

Gillispie, 67, is CEO of AEHI, and Ransom, 36, is its senior VP and "also has a personal relationship with Donald Gillispie and is the beneficiary of his IRA account," according to the complaint.

The SEC says the two drove up the price of AEHI stock through bogus and frequent press releases - more than 87 this year along.

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Read more: http://www.courthousenews.com/2010/12/17/32697.htm

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[IDemo]

1. Are suckers part of a nuclear power plant?

Ironically, this comes only two weeks after the town came out strongly for the plant and the tarring and feathering of its opponents.

http://www.boiseweekly.com/boise/payette-the-county-of-yes/Content?oid=1931199

As the evening of Dec. 2 wore on at the public hearing and a half-dozen SRA representatives took to the microphone, P & Z commissioner Farrell Rawlings ripped into the group.

"Look here," Rawlings lectured. "Our governor is in favor of this. Every mayor in our county is in favor of this. Our chamber of commerce is in favor of this. I'm offended that there's not one positive thing that you and your group has contributed to this discussion."