SEC Hits Alternate Energy With Fraud Suit

Law360, New York (December 16, 2010, 8:13 PM EST) -- The U.S. Securities and Exchange Commission on Thursday accused Boise, Idaho-based Alternate Energy Holdings Inc. of fraudulently raising millions of dollars for a $10 billion nuclear power plant, a scheme that allegedly garnered its two top executives illegal profits that were put to personal use.

In a complaint filed in the U.S. District Court for the District of Idaho, the SEC said it was seeking an emergency court order to freeze the assets of the company and its two executives.

According to the complaint, AEHI raised...
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