Don Gillispie, the embattled CEO of Alternate Energy Holdings, the Eagle-based company that wants Payette County to bask in the glow of a nuclear reactor, resigned today.
Gillispie's resignation, effective immediately, was tied to what Gillispie said were "ongoing health concerns." Gillispie said he would assist the company part-time as a consultant.
The AEHI Board of Directors voted unanimously to appoint Pete Honeysett, AEHI director of nuclear projects, as interim president.
In the current issue of Boise Weekly, we detail how federal prosecutors are asking a judge to freeze AEHI's assets for the second time in less than two years, alleging that Gillispie's "get rich quick" schemes were continuing.
In December 2010, the Securities and Exchange Commission alleged that Gillispie was "pumping and dumping," manipulating AEHI stock through false statements and allowing key management to sell shares at inflated prices. U.S. Judge Edward Lodge froze the assets but lifted the order in February 2011, warning Gillispie to provide detailed monthly documentation of AEHI expenditures.
But now, SEC investigators allege that Gillispie was sliding money around—as much as $2 million—"concealing the money from shareholders, the public, and the [SEC]."