SEC Tightens Screws On AEHI

Securities regulators say court-ordered discovery into a small would-be Idaho nuclear plant developer's activities strengthen their claims that its executives treated the company "as their own personal piggy bank."

 Securities and Exchange Commission lawyers filed documents about Alternate Energy Holdings on Friday in U.S. District Court, seeking to keep executives' assets frozen. SEC lawyers wrote that Chief Executive Officer Don Gillispie and Vice President Jennifer Ransom schemed to mislead investors and spent $19 million of $26 million "raised from investors, without any explanation of where that money has gone." In a January 10th deposition, Gillispie also discussed his marketing efforts for the company in Asia. Gillispie described how he traveled there with Ransom because people he met with "like a pretty blonde face to look at, so it doesn't hurt."