AEHI back to establishing nuclear site after federal judge releases company funds

Source: Alternate Energy Holdings, Inc.

Alternate Energy Holdings, Inc. (AEHI) announced a federal judge dropped the freeze on all AEHI and personal funds, allowing the company access to all of its assets, which will be used to continue the process of approving a site for a  nuclear power plant in Payette County, Idaho, continue Energy Neutral(TM) projects and market Green World Water(TM) nuclear desalinization systems. 

The decision was made following a hearing in the Idaho Federal Courthouse in Boise on Thursday, February 3rd, 2011. 

"As I said before, the SEC was simply wrong about allegations that AEHI officials were defrauding their investors. After our evidence was laid before the judge, he agreed and made the decision to release the funds," said Richard Roth, Esq., of the Roth Law Firm, PLLC, from New York City, AEHI's attorney. 

AEHI accounts were frozen on December 18th, 2010, following a civil complaint from the U.S. Securities and Exchange Commission. 

Shortly after funds were frozen, Don Gillispie and Jennifer Ransom temporarily stepped down from their respective roles as CEO of AEHI and President of Energy Neutral(TM). It is anticipated following a vote of confidence from the AEHI Board of Directors, expected early next week, that both Gillispie and Ransom will resume their former positions. 

"This decision allows us to follow through on promises that we have been making all along. Investors entrusted us with their money in order to create a company with a goal of building a nuclear power plant as well as other energy projects and that's what we plan to do," said Gillispie. 

As part of the agreement between AEHI and the SEC, AEHI will report any expenses of more than $2,500 on a monthly basis and has agreed to continue to comply with all federal securities laws.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs