Monday, April 13, 2015

Former AEHI Vice President, Described by Attorneys As Having No Responsibilities, Will Plead Guilty to Fraud

Posted By on Mon, Apr 13, 2015 at 2:43 PM

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In February 2011, Boise Weekly interviewed Jennifer Ransom, former vice president of Alternate Energy Holdings, Inc., after listening to AEHI's CEO Don Gillispie describe her as "a pretty blonde" in a federal court hearing where prosecutors alleged that the company was a shell for a "pump and dump" scheme.

"Quite frankly, Asians like a pretty blonde face to look at," said Gilliespie. "So it doesn't hurt." Gillispie referred to the numerous trips that he and Ransom had taken together, including to the Far East.

In fact, AEHI attorneys presented Ransom as a secretary with "no day-to-day responsibilities." During the hearing, AEHI attorneys referred to something called Bosco Financial LLC, through which hundreds of thousands of dollars had flowed. Ransom later told BW that "Bosco" was the name of a family dog.

A few months later, Ransom resigned from AEHI, citing "significant health-related issues."

And now Ransom has reached a plea agreement where she is expected to plead guilty of one count of securities fraud and forfeit more than $580,000 when she returns to the federal courthouse in Boise on Tuesday, April 21.

Meanwhile, Gillispie continues to fight charges of conspiracy and securities fraud and is still slated for a federal court trial this coming July.
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