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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

Humphrey Yang

Tax Deductions on Mortgage Interest Payments Explained

⏲ 41 seconds 👁 37.7K

Graham Stephan

How I Borrow FREE Money

⏲ 16 minutes 13 seconds 👁 259K

A retired teacher who refused to pay an English-only parking fine in Wales could face a £10,000 legal bill.<br/><br/>Language campaigner Toni Schiavone will appear in court in Aberystwyth for the fourth time on May 13.<br/><br/>It is over his refusal to pay an English-only parking charge notice - after the parking company One Parking Solution won an appeal to reintroduce the case in January.<br/><br/>This is despite the judge, Gareth Humphreys, warning that the company should carefully consider the value of continuing with a case that has already been \

Man who refused to pay English-only parking fine in Wales faces £10k legal bill

⏲ 1:49 👁 1.3M

From Debt to Hyperinflation: More Banks to Collapse As System Implodes, 'They Need a Crisis' – Zang

⏲ 1 hour 7 minutes 54 seconds 👁 388K

NerdWallet

Banks are Ditching Overdraft Fees

⏲ 5 minutes 9 seconds 👁 4.3K

What's next for crypto? Latest ethereum news? Let's discuss the cryptocurrency news for bitcoin, ethereum, solana, ICP, cardano, altcoins & MORE!

The SEC Attempts to 'Seize Control of Ethereum' with Crypto Crackdown

⏲ 8:30 👁 15K

Sea Finance

房地产萧条正在蔓延

⏲ 12 minutes 14 seconds 👁 1.7K

Forbes Breaking News

Watch Out—An Economic Firestorm Is Beginning To Form: Steve Forbes

⏲ 4 minutes 14 seconds 👁 7.6K

MegaWhale Crypto

Bitcoin (BTC): The PARABOLIC PHASE IS NEAR! You NEED To See This!! (WATCH ASAP)

⏲ 24 minutes 6 seconds 👁 1.6K

James Johnson

Paying Off Your House Early is a Mistake (According to the MATH)

⏲ 24 minutes 29 seconds 👁 180.9K

The Daily Show

Jon Stewart Deconstructs Trump’s \"Victimless\" $450 Million Fraud | The Daily Show

⏲ 12 minutes 58 seconds 👁 2.1M

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