The Securities and Exchange Commission (SEC) December 16 charged a self-described power company in Idaho with fraudulently raising funds for a $10 billion nuclear power project. The
SEC is seeking an emergency court order to freeze the assets of the company and two
executives. The SEC alleged that Alternate Energy Holdings Inc. (AEHI) has raised millions of dollars from investors in Idaho and throughout the United States and Asia while fraudulently manipulating its stock price through misleading public statements that conceal the secret profits reaped by its CEO and senior vice president. The CEO touted the company as a tremendous investment opportunity that could rival Exxon Mobil in profitability, despite the fact AEHI has essentially no revenue and minimal operations. The SEC suspended trading in AEHI stock earlier the week of December 13.