SEC wants Idaho nuke developer's assets frozen

SEC wants Idaho nuke developer's assets frozen

Credit: AEHI

Don Gillispie

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by Associated Press

NWCN.com

Posted on November 2, 2012 at 11:31 AM

Updated Friday, Nov 2 at 3:17 PM

BOISE -- Securities and Exchange Commission lawyers want a federal judge to again freeze assets of a would-be Idaho nuclear power developer, saying its founder hid use of the company's dwindling cash for a sham investment scheme.

Alternate Energy Holdings Inc. also confirmed Friday that it's being investigated by the U.S. Department of Justice.

SEC lawyers told U.S. District Judge Edward Lodge this week that AEHI Inc. Chief Executive Officer Don Gillispie engaged in get-rich quick scheme involving at least $2 million -- without properly reporting the transaction.

In February 2011, Gillispie was ordered by Lodge to provide the SEC with documentation of AEHI expenditures exceeding $2,500, in exchange for lifting a previous freeze on the company's money.

Company officials contend the SEC is using lawsuits to put AEHI out of business.

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