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_inside-a-3646-million-renewable-energy-swindle.jpg "Rhino Onward International, or ROI as it called itself, launched in 2022 with some big promises. The renewables development firm claimed that its “proprietary process and technology” put it in position “to assume the leading role in Green Hydrogen production.” The company said it was building a green hydrogen plant in Arizona that would be worth about $530 million within 5 years, according to marketing materials it shared with investors.<br/><br/>ROI raised $31 million from over 200 investors but apparently only invested $200,000 in the business; the firm’s promoters Paul Croft and J.D. Frost diverted the rest of the investors’ money to themselves and entities they control, according to an investor lawsuit filed in Illinois last month, which cited bank records obtained through subpoenas. Beginning in 2021 until last year, Croft, a 42-year-old entrepreneur living in Chicago, and Frost, a 40-year-old accountant based in Chattanooga, Tennessee, raised approximately $46 million from a series of phony renewables investment schemes, which the pair used to live extravagantly, pay employees at their tax advisory business, pay down short-term loans and even lend money to embattled professional hockey player Robin Lehner, according to allegations in lawsuits, bankruptcy filings, former investors and ex-employees of Croft’s and Frost’s businesses who spoke with Forbes on the record, and others with knowledge of the matter who spoke on the condition of anonymity in order to speak about sensitive information.<br/><br/>0:00 Introduction<br/>0:28 The Founding Of Rhino Onward International<br/>3:34 Who Was Scammed By Croft And Frost?<br/>6:11 Who Are Croft And Frost?<br/>9:21 When Did Investors Figure Out The Scam?<br/>12:17 Embellishing Wealth And Origin Stories<br/>14:26 What's Next?<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/04/23/anatomy-of-a-46-million-renewable-energy-swindle/?sh=767c07c23c4b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
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_277000-federal-student-loan-borrowers-had-loans-forgiven-today-who-was-included.jpg "Lisa Remillard")
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_window-closing-on-student-loan-forgiveness-what-you-need-to-know-2024.jpg "The Money Librarian")
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_gen-z-publicans-pay-off-stonehenge-hotel-in-western-queensland-with-loan-from-former-owner.jpg "This feel-good story starts a bit like a common joke: two 'young and dumb' schoolmates walk into a pub… But the rest is no joke because they bought it. In fact, the young men in western Queensland bypassed the banks and struck a deal with the pub's former owner, and two years on they've paid off their investment.")
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_public-service-loan-forgiveness-is-on-the-move.jpg "#1 Student Loan Lawyer | Tate Law")
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_public-service-loan-forgiveness-explained-how-it-works-today.jpg "#1 Student Loan Lawyer | Tate Law")
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_mum-breaks-down-after-being-harassed-by-ah-long-debts.jpg "A woman broke down after being persistently harassed by loan sharks over her eldest son's alleged debts.<br/><br/>Retiree Lim Sook Fun, 64, tearfully spoke to a press conference called by MCA Public Services and Complaints Department head Datuk Seri Michael Chong at Wisma MCA in Kuala Lumpur on Friday (April 26).<br/><br/>Read more at https://tinyurl.com/3bnescbj<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline")
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_don39t-wait-3-must-dos-for-pslf-public-service-loans-forgiveness.jpg "The Money Librarian")
⏲ 6 minutes 43 seconds 👁 5.1K
_important-student-loan-forgiveness-deadline-coming-tuesday-i-what39s-the-deal.jpg "WTHR")
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_how-football-teams-use-a-secret-loophole-to-get-a-fake-goalkeeper.jpg "Pressure to get results in the EFL means clubs are thinking outside the box. By exploiting a loophole in the emergency goalkeeper loan rule, they've found a clever but controversial way to save them money.")
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_pslf-explained-public-service-loan-forgiveness-explained.jpg "The Money Librarian")
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_cormani-mcclain-is-out-as-usc-lincoln-riley-dont-want-him-after-coach-prime-we-out.jpg "TS4T Sports Media")
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_inside-a-3646-million-renewable-energy-swindle.webp "Rhino Onward International, or ROI as it called itself, launched in 2022 with some big promises. The renewables development firm claimed that its “proprietary process and technology” put it in position “to assume the leading role in Green Hydrogen production.” The company said it was building a green hydrogen plant in Arizona that would be worth about $530 million within 5 years, according to marketing materials it shared with investors.<br/><br/>ROI raised $31 million from over 200 investors but apparently only invested $200,000 in the business; the firm’s promoters Paul Croft and J.D. Frost diverted the rest of the investors’ money to themselves and entities they control, according to an investor lawsuit filed in Illinois last month, which cited bank records obtained through subpoenas. Beginning in 2021 until last year, Croft, a 42-year-old entrepreneur living in Chicago, and Frost, a 40-year-old accountant based in Chattanooga, Tennessee, raised approximately $46 million from a series of phony renewables investment schemes, which the pair used to live extravagantly, pay employees at their tax advisory business, pay down short-term loans and even lend money to embattled professional hockey player Robin Lehner, according to allegations in lawsuits, bankruptcy filings, former investors and ex-employees of Croft’s and Frost’s businesses who spoke with Forbes on the record, and others with knowledge of the matter who spoke on the condition of anonymity in order to speak about sensitive information.<br/><br/>0:00 Introduction<br/>0:28 The Founding Of Rhino Onward International<br/>3:34 Who Was Scammed By Croft And Frost?<br/>6:11 Who Are Croft And Frost?<br/>9:21 When Did Investors Figure Out The Scam?<br/>12:17 Embellishing Wealth And Origin Stories<br/>14:26 What's Next?<br/><br/>Read the full story on Forbes: https://www.forbes.com/sites/johnhyatt/2024/04/23/anatomy-of-a-46-million-renewable-energy-swindle/?sh=767c07c23c4b<br/><br/>Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1<br/><br/>Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:<br/><br/>https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript<br/><br/>Stay Connected<br/>Forbes newsletters: https://newsletters.editorial.forbes.com<br/>Forbes on Facebook: http://fb.com/forbes<br/>Forbes Video on Twitter: http://www.twitter.com/forbes<br/>Forbes Video on Instagram: http://instagram.com/forbes<br/>More From Forbes:http://forbes.com<br/><br/>Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.")
_277000-federal-student-loan-borrowers-had-loans-forgiven-today-who-was-included.webp "Lisa Remillard")
_window-closing-on-student-loan-forgiveness-what-you-need-to-know-2024.webp "The Money Librarian")
_gen-z-publicans-pay-off-stonehenge-hotel-in-western-queensland-with-loan-from-former-owner.webp "This feel-good story starts a bit like a common joke: two 'young and dumb' schoolmates walk into a pub… But the rest is no joke because they bought it. In fact, the young men in western Queensland bypassed the banks and struck a deal with the pub's former owner, and two years on they've paid off their investment.")
_public-service-loan-forgiveness-is-on-the-move.webp "#1 Student Loan Lawyer | Tate Law")
_public-service-loan-forgiveness-explained-how-it-works-today.webp "#1 Student Loan Lawyer | Tate Law")
_mum-breaks-down-after-being-harassed-by-ah-long-debts.webp "A woman broke down after being persistently harassed by loan sharks over her eldest son's alleged debts.<br/><br/>Retiree Lim Sook Fun, 64, tearfully spoke to a press conference called by MCA Public Services and Complaints Department head Datuk Seri Michael Chong at Wisma MCA in Kuala Lumpur on Friday (April 26).<br/><br/>Read more at https://tinyurl.com/3bnescbj<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline")
_don39t-wait-3-must-dos-for-pslf-public-service-loans-forgiveness.webp "The Money Librarian")
_important-student-loan-forgiveness-deadline-coming-tuesday-i-what39s-the-deal.webp "WTHR")
_how-football-teams-use-a-secret-loophole-to-get-a-fake-goalkeeper.webp "Pressure to get results in the EFL means clubs are thinking outside the box. By exploiting a loophole in the emergency goalkeeper loan rule, they've found a clever but controversial way to save them money.")
_pslf-explained-public-service-loan-forgiveness-explained.webp "The Money Librarian")
_cormani-mcclain-is-out-as-usc-lincoln-riley-dont-want-him-after-coach-prime-we-out.webp "TS4T Sports Media")
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