Alternative Energy Claims SEC Wants It To Go Bankrupt

Law360, Washington (April 12, 2012, 12:23 PM EDT) -- Alternative Energy Holdings Inc. on Wednesday shot back at the U.S. Securities and Exchange Commission's allegations it fraudulently raised money for a $10 billion nuclear power plant, calling the agency's bid to subpoena its business partners an attempt to push it into insolvency.

AEHI says the SEC's subpoenas to Vital Funds Inc., Corporate Strategies LLC, Southwest Escrow Corp. and GT Securities Inc. fall outside the scope of the SEC's complaint that asserts AEHI fraudulently raised millions of dollars for the plant.

The agency alleges the funding...
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