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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.

Inside A $46 Million Renewable Energy Swindle

⏲ 15:41 👁 12M

Mauricio Umansky Moves Out of House With Kyle Richards, Buys Place in West Hollywood

Mauricio Umansky Moves Out of House With Kyle Richards, Buys Place in West Hollywood

⏲ 1:1 👁 2.2M

The DEA's decision to move cannabis from Schedule I to Schedule III is the first time the agency has called for rescheduling botanical cannabis under federal law. This comes after the HHS requested changes to cannabis' Schedule I classification eight months ago. Organization for the Reform of Marijuana Laws's deputy director called it significant for federal agencies to acknowledge cannabis' therapeutic benefits and safety. However, rescheduling to Schedule III would not resolve the conflict between state cannabis laws and federal regulations. Schedule III substances require FDA approval and prescriptions from licensed pharmacies.

DEA's Move To Reclassify Cannabis Seen As 'Significant,' But Fails To Resolve State-Federal Conflict

⏲ 0:38 👁 835K

When Marshall's elderly owner moved into a nursing home, the heartbroken 15-year-old ginger cat faced an uncertain future.

Senior cat suddenly homeless when owner moves to nursing home and no one wants him

⏲ 1:2 👁 2M

Last week, Bumble wiped clean its Instagram account. Like a pop star entering a new era, the dating app was setting a blank slate before revealing its next chapter.

New Bumble tool relieves the “burden” of women making the first move

⏲ 0:51 👁 2.2M

watch here new The Wolverine (2025) - First TrailerDaniel Radcliffe. Do follow for watching next.

The Wolverine (2025) - First TrailerDaniel Radcliffe

⏲ 1:26 👁 330K

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Gangubai-Kathiawadi-2022--hd-sample

⏲ 2:0 👁 45K

Manchester City win 4-0 at bottom side Bristol City, sending them down

Easy win moves Manchester City closer to WSL title

⏲ 1:14 👁 40K

Maya Hawke was left in tears as she auditioned for the role of Anxiety in the Pixar animated film 'Inside Out 2'.

Maya Hawke was moved to tears during her 'Inside Out 2' audition

⏲ 1:13 👁 16.8M

Wild Attraction (1992) Full Movie | Raven, Jesse Eastern, Rocco Siffredi

Wild Attraction (1992) Full Movie | Raven, Jesse Eastern, Rocco Siffredi

⏲ 1:1:24 👁 255K

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