SEC shuts down couple’s alleged pump-and-dump scheme

 Donald Gillespie and Jennifer Ransom peddled shares in Alternate Energy Holdings Inc. (OTCBB: AEHI.OB), a company that was supposed to be building a multibillion-dollar nuclear reactor. In reality, the company never had any revenue or product, says the SEC. Instead, Gillespie and Ransom were pumping the stock through press releases (more than 87 this year alone) while secretly selling their own stock and using the proceeds on personal items like a Maserati for Gillespie. Courthouse News says the SEC has asked for fines, disgorgment of profits and an order “telling both of them never to do such a thing again.” 

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