Thursday, December 4, 2014

UPDATE: Federal Court to Don Gillispie: OK, Where's the Money?

Posted By on Thu, Dec 4, 2014 at 8:56 AM

UPDATE

Writing that he issued a December 3 judgment prematurely, U.S. District Court Judge Edward Lodge is now giving Alternate Energy Holdings founder Don Gillispie until Tuesday, December 30 to respond to his initial order. Only after Gillispie's attorneys have filed their response and the Securities and Exchange Commission weighs in, will Lodge then consider making the injunction formal and permanent.

Meanwhile, Gillispie and his girlfriend/former business partner Jennifer Ransom are still facing a January 13, 2015 trial date where they will  face criminal charges of conspiracy, securities fraud, wire fraud, filing false tax returns and making false statements to federal agents.


ORIGINAL POST: Dec. 4, 2014

Don Gillispie, who took his scheme of building a nuclear reactor from county to county across Southwest Idaho until officials in Payette County gave him a greenlight, has been ordered by a federal court to pay back more than  $15 million that he raked in from investors. 

Gillispie, from Eagle, pitched his $10 billion nuclear reactor scheme from Owyhee to Elmore to Payette counties. Gillispie was told "no" or given "conditional maybe's" by officials in Elmore and Owyhee counties, but it was Payette County officials who reacted favorably to his grand plan.

"Look here," said Payette County Planning and Zoning Commissioner Farrell Rawlings in 2010. "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."

Payette County Planning and Zoning commissioners gave Gillispie a green light in December 2010, when they agreed to rezone nearly 5,000 acres of rural land from agricultural to industrial use for Gillispie's nuclear dream. Gillispie was promising 5,000 construction jobs and 2,000 permanent jobs if his nuclear reactor was ever built.

But federal prosecutors told Boise Weekly in 2012 that Gillispie started spending investors' money without any explanation.

And in mid November, Gillispie's colorful journey looked like it had finally come to an end when a federal grand jury handed down an indictment against him and a former AEHI vice president, accusing them of conspiracy, fraud and lying to the Internal Revenue Service.

On Wednesday, Gillispie was ordered to repay $14.6 million to investors, plus $245,036 in interest and $75,000 in fines. His company, AEHI, was fined an additional $300,000. He's been given 30 day to come up with the money.

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