An unauthorized collection of the records of Alternate Energy Holdings, inc., its principals and subsidiaries, and their antics, trials, and tribulations


Please, Please, Please, Everyone! Just Calm Down! And Stop Whining!

Thursday, February 3, 2011

US Federal Court: Showtime!


Don helping unload some important charts and graphs that will help show how all this was just a big misunderstanding.


US Federal Building, Boise ID


3:30. Judge orders assets unfrozen, but AEHI must report monthly to SEC any expenditures over $2500. Like trips to China. And they have to comply with all the SEC rules, like, you know, filing reports correctly and on time.

The Dude called this one wrong, but of course the story continues.




2:20. Attorneys have been in with Judge for about 40 minutes.

12:10 Recess till 1:30

12:07 Uh oh. Roth gets a frowny look from the Judge during a question about The Bellagio. Asks Roth whose money was being spent.  And make that 18 on the submisso-meter.

11:55. Roth is back up, not more than 5 minutes in and he's already done it. Submit count now 16. He does tell us that Fickes used the word Maserati 5 times. But Roth used it three times. Maserati. Maserati Maserati Maserati.  Decided to hell with the seal on exhibits RR and UU, shows us that they are cashier's checks and since he claims the SEC mislabeled them as AEHI checks that somehow makes the SEC case fall apart.  Nope.
Make that 17 I-submit-to-yous.  Maserati.

11:40. The Judge has looked very interested during the SEC presentation, unlike when the AEHI attorney was talking. Just sayin'.

11:30 shows another email where Gillispie tells a broker to sell 200,000 shares of Ransom's, but emphasizes to the broker to sell no more than 5000 shares at a time so as not to affect the stock price.
SEC Attorney Is Mark Fickes, who by the way, has said "I submit to you" only once this half hour.

11:15 Skewering them on the contradictory claims about Ransom. First the company claims she is a Key Senior Executive Vice President and Big Shot Worthy of Limousine Service, and now that they have been(quoting the SEC attorney)"caught with their hands in the cookie jar," they make self serving claims that she doesn't count as an officer when she made otherwise reportable stock sales.

10:55 Court back in session.
Here comes the SEC attorney Fickes.
And here come all the emails, Don telling someone named Billy to push the stock price up to a dollar, in preparation for press releases. Ooops. 8 emails.

10:56 Recess! Where is the playground?

10:54. Judge asks a question! To Roth: "What are you saying are new SEC allegations in all the new shit?"
Roth: Waaaah!
Ding! Submit counter up to 15.

10:48. How a Federal Judge can pretend to be interested for this long? His boredom is starting to show, as Roth reads already printed case law to him, adding nothing by way of oral argument. Submissive count now 13, three in two minutes alone.
Roth starts whining about all the new shit that came to light last Friday, calls it 'sandbagging'. He knew the deadline. The Dude had enough time to read it all. What does the attorney get paid to do?

10:30 'I Submit to you' count now at 10. Roth talks about the hushed-up and now in arbitration UniStar suit, claiming they will get 5 million.
Finally, an intesting claim about the company by Roth: "They haven't even spent 3 million dollars." Wow.
Note to future lawyers: Don't use a case history named Wanke if you want to be taken seriously.

10:16. Now Roth refers to some checks in sealed exhibit RR, which he will not let the audience see. Claims they are checks for 190,000 that are not AEHI checks, apparently contradicting the SEC. We shall see.

10:10. The Dude didn't come all the way to the Federal Court to hear the AEHI attorney essentially read the response memorandum out loud. Looking forward to the SEC smackdown, which at this point cannot come soon enough. These seats are very uncomfortable.

9:57 Jennie tries tearing up a bit to show the judge how caring she is. Good thing she grabbed some tissues.
Submissiveness count now at 6
The SEC attorneys look positively bored. Wouldn't be surprised to see them start playing FreeCell on their computers any minute.

9:55 OK, he said it again. We will now begin the 'I submit to you' counter with a current guess of 5.

9:54. Roth says 'I submit to you' so many times he can now be called clinically submissive.

9:51 Based on Roth's performance at this point, The Dude is going to call this one for The SEC. Roth is completely unconvincing, and is only repeating what he said in the original response.

9:40 Roth is now falling back on the quibbling words used to describe Ransom's role- first she is a Key Senior Executive Vice President, now they claim she merely helped arrange supplies in the office storage cabinet. Of course, she did that so well she got about a hundred grand a year, just like all other office supply managers, right?

Roth is arguing nothing more than what is already in their previously filed answer. He is claiming there was no 'Pump' committed by AEHI, conveniently ignoring the blizzard of air-filled company press releases about their now-exposed trips to China and other nonsense.

Roth also seems to think this is a zoning hearing- 'every mayor in payette county supports this project'

Roth impresses the Judge by Pronouncing Owyhee as 'oihee'.

Starting out with Richard Roth, who will argue to show cause why the order should not be granted. Then the SEC will reply.

9:30. Here come de Judge!
This ain't a planning and zoning hearing anymore, that's for sure.

9:15 Some random pleasantries amongst attorneys which leads them to guess this will take about 90 to 120 minutes.

Update 9:10 AM: SEC attorneys arrive with a big Box O' Evidence. Perhaps that will outweight the Chart O' Numbers?



15 comments:

  1. The Douche should just tell it like it is, and stop referring to himself in the 3rd person....idiot

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  2. You make the blog, you make the rules. The Dude, hovever, is above deleting your post.

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  3. Hey Dude, thanks for live-blogging the event. This is fun!

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  4. Oh my gosh!! I've known him for 40 yrs. He only moved to Idaho about 3 1/2 yrs ago. And at that time he had no maserati. But he did have a wife and still does..... Oh well, details, details. Thank you Dude for the updates. Keep them coming.

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  5. Agreed Joe! The residents of Payette County (the REAL ones-- not the fake ones who are drunk with power and who don't allow people to speak their feelings) THANK YOU! Keep up the entertaining live stream! My money is that the "submit count" will total 30+ by the end of the even-- any takers?

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  6. Dude, have they relieved you of your keyboard? We're dying for our blow-by-blow!!

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  7. There once was a man named DG,
    Who loved to elaborate on his non-existent pedigree,
    However, with no degree from MIT,
    He "traveled" with a blonde named Jennie,
    Jennie, Don thought would be the perfect cover
    for the stock sales that he needed to hide from the SEC,
    As it turns out, just as he was busted for the fake degree from MIT,
    So too was he outed by the SEC,
    Now he awaits a Federal Judge to see
    exactly how long his (aka "the investors") money will "freeze"!

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  8. Good call Dude...Hahahahaha

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  9. Dude,

    Unfortunately, it is not surprising. There is a reason that Idaho judges are the MOST overturned in the country. I suspect that if this case where in Oregon, Washington, etc. it would be a bit different right now!

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  10. Don't count on it pal....."and the truth shall set you free"

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  11. Don was looking terrible today. Is he having chemo or radiation treatments? I thought he was going to have a heart attack when the SEC put some of the e-mails he wrote up on the screen that showed how he pumped the stock price. Seeing Don today in his poor health I don't know if he will make it through the rest of the trial let along run a company.

    Nice job Dude!!

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  12. In my opinion, this was barley a skirmish and I believe the judge was wrong in releasing the assets as the SEC showed clear and continuing securities fraud and blatant perjury. As it will only expand Gillispie's megalomania and evaporate more investor funds. The Judge didn't dismiss anything, and he said he didn't trust Gillispie at all as he has to report every single transaction over $2,500 every single month, (his house rent is $3,000), and oh by the way, they had to follow the law which they obviously hadn't been doing. No one in their right mind would touch this company, but then wait, no one in their right mind would have ever touched the company in the past. Lots of stupid people out there, I guess. That is what makes people like Gillispie who they are!

    More info. to come I am sure!

    Dude! I vote you delete the stupidity some of these guy are writing. If we want to read stupidity we can go to yahoo.

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  13. Why is Anonymous anonymous?

    ReplyDelete
  14. Because Anonymous is anonymous. Why else?

    ReplyDelete