Financial Company wants Idaho Nuclear Developer’s Money
BOISE, Idaho (AP) — A Texas-based financial company says it's entitled to $2 million from a would-be Idaho nuclear power plant developer. Hamilton Guaranty Capital filed documents in U.S. District Court in Idaho last week outlining its dispute with Alternate Energy Holdings, Inc.
Earlier this year, AEHI paid $2 million into a Nevada law firm's escrow account, money required before Hamilton Guaranty would arrange a transaction for AEHI. Hamilton says it fulfilled its obligations — and wants the money. The $2 million remains tied up in Nevada state court, where a judge is considering its rightful owner.
In early November, the Securities and Exchange Commission called AEHI's transaction with Hamilton a get-rich scheme. Lawyers for the federal stock regulator then asked a federal judge to freeze AEHI's assets, to protect them from being squandered.