Hearing For Nuclear Energy Company AEHI In Boise Wednesday

Jan 9, 2013

A hearing is scheduled for Wednesday morning in a federal courtroom in Boise that could affect the future of a controversial Eagle-based nuclear energy company. 

Since the Securities and Exchange Commission began targeting Alternate Energy Holdings Incorporated more than two years ago, it’s accused the company of fraud.   Among other things, the government says the company overstated the likelihood that it could build a $10 billion nuclear plant in Payette County.   The SEC also accuses the company of making false promises to potential stockholders that they’d get a better deal on stock if they bought early. 

The hearing pertains to two motions.  One is a requested summary judgment that would declare the government a winner in its case against AEHI without a trial.  The other is a request from the SEC to freeze investments  the government contends are part of a fraudulent scheme by AEHI, and therefore at risk.   

AEHI has denied doing anything wrong and insists the government is grasping at straws.  But in response to the SEC’s complaints, AEHI has essentially said if the government wins its suit it would put the company out of business. 

AEHI’s CEO left the company in November, citing health problems. 

Wednesday’s hearing is scheduled for 9:30 AM in federal court in Boise.