Bad timing! Yesterday I wrote about AEHI's paid stock promotions and today Gillispie appears in a paid interview and says a couple of things that might just be enough to put him behind bars.
First note that the disclaimer admits that the interview is paid for by AEHI but does not specify the exact amount. That's illegal under federal securities law (quote: "The federal securities laws require the newsletters to disclose who paid them, the amount, and the type of payment. But many fraudsters fail to do so and mislead investors into believing they are receiving independent advice.").
Next Gillispie launches into truly unbelievably disingenuous misrepresentations. Read it yourself, but here are the highlights:
Claim: "We announced that we wanted to look for a western site and we were contacted by a group of farmers in Idaho who were trying to form an electricity co-op to get cheaper energy. "
Reality: Gillispie was contacted by a repeat securities fraudster. Farming was in the name of his operation only.
Claim: "We have the first phase financing to get it up through the NRC (Nuclear Regulatory Commission) approval already."
Reality: The funding agreement has already automatically and permanently terminated and would not suffice to cover the estimated expenses at all.
Claim: "Between our calculations, the price we want to get it at, and we believe that we can, we are looking at $3 to $4 billion a year in profits per site."
Reality: A realistic calculation shows that claim to be completely indefensible.
Claim: "One of the things that I tell people is that you want to think about profitability; if I build six units in Idaho and are able to build them at the cost that I think I can and sell at current market prices on the west coast, then I can rival Exxon Mobil in profitability."
Reality: At current prices nuclear energy is borderline profitable. Legitimate businesses have given up for the time being. This is just crystal clear securities fraud.
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