SEC: The Evidence Against AEHI

Believe it or not, there are still people on the various stock forums defending Don Gillispie and Jennifer Ransom. They claim that this is just a huge mixup.

In reality, they claim, the SEC was conned by the anti-nuclear lobby or by people seeking personal revenge against Gillispie and Ransom to pursue a baseless case against these fine people and the company that will likely rival Exxon Mobil in profits. As example check out this post titled "Standing strong in what I believe is right", singing the praises of Gillispie and Ransom.

Of course the most rational explanation is that these are promoters paid by AEHI to suppress supply or (gasp!) create demand for the shares when they will be tradable again on the grey market on 12/28/10. But we do realize that some folks might just believe in Gillispie's story so much that they really think the SEC would just suspend a stock and file a case for securities fraud because of some "baseless" allegations from the internet.

Gillispie is doing what he can to maintain this illusion - likely in order to be able to offload more of his stock to his followers when the suspension terminates. Take this quote:

“I am saddened that officials with the SEC did not follow up with me or my staff on these allegations prior to filing civil charges. Had they done so and we were given the opportunity to confront these issues, I am certain we would not be in this position today. My first priority is to this company and our stockholders. So I believe it is critical that I take this step for the welfare of AEHI and for the company’s future in the nuclear power industry”

Sure, Don. All it would have taken is one call to you and you could have clarified this whole misunderstanding...  

Well, gladly in addition to the fraud charges we now have this declaration from the SEC which lists the evidence filed with the case. Read for yourself, but they have stock account statements from Gillispie, Ransom etc, they have bank account statements of Gillispie, Ransom and their fraudulent entities, they have emails and letters originating from Gillispie, Ransom and the other players - in short they have done their homework.

So no, there's absolutely no chance that the SEC has been conned by the rabid anti-nukes.