AEHI Faces A New Complaint

Apr 17, 2012

The company that wants to build a nuclear power plant in Payette County faces a new complaint. A group of property owners who have land near the proposed site for the plant filed a complaint in district court Monday against Alternate Energy Holdings and Payette County.  The complaint says AEHI has never had any revenues, never shown a profit, and never built anything.  It says AEHI used Payette County as part of a scheme to fraudulently promote its stock and boost its stock price. 

The complaint alleges Payette County rezoned the land for AEHI from agricultural to heavy industrial use.  It also says the County entered into a development agreement with AEHI.

AEHI is being investigated by the Securities and Exchange Commission for operating a scheme to manipulate the market for the company’s stock.

The plaintiffs say in the complaint they are not seeking any damages. But they do want the court to declare Payette County’s zoning change and development agreement null and void.