Monday, December 10, 2012

AP: Texas Company Wants $2 Million Back From AEHI

Posted By on Mon, Dec 10, 2012 at 9:14 AM

A Texas-based financial company, which federal prosecutors allege was part of a get-rich-quick scheme with would-be nuclear developer Alternate Energy Holdings, now wants its money back from the Eagle-based businesses.

In November, Don Gillispie, the embattled CEO of AEHI, resigned as the company's chief for what he called "ongoing health concerns." Gillispie resignation followed the latest round of allegations from the Securities and Exchange Commission that Gillispie was sliding money around—as much as $2 million—"concealing the money from shareholders, the public and the (SEC)."

The Associated Press is reporting that Hamilton Guaranty Capital filed documents in U.S. District Court in Boise last week, saying it "fulfilled its obligations" to AEHI and wants its money back. The AP reports that AEHI paid $2 million into a Nevada law firm's escrow account, prior to Hamilton Guaranty arranging a transaction for AEHI. But the $2 million remains tied up in a Nevada state court, where a judge is still mulling who should get the money, according to the AP.

Meanwhile AEHI officials maintain that they're moving forward with their plans to build a nuclear power plant in Payette County by beginning what they call "an extensive environmental study" in preparation of their application to the U.S. Nuclear Regulatory Commission.

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