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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

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westdakota1

Sturgis 2021 HD

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Adam Sandoval

Sturgis 2021 A Different View Of Deadwood

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Following the success of last year's \

'Godzilla X Kong: The New Empire' Has Screened, And First Reactions Are Hailing The New MonsterVerse Offering As ‘An Absolute Slobberknocker’

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Bob u0026 Tam's Excellent Adventures

STURGIS 2021 RALLY TOP 10 MUST DO EVERYTHING YOU NEED TO KNOW ABOUT YOUR VISIT

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VP_Customs

WARNING: These Bike Nights Aren't For Everyone...

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Sturgis 2021 wet tee shirt contest Full Throttle Saloon

Full Throttle Wet Tee Contest

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Primecutpro

Daytona Beach Bike Week 2023

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ZZ Twin Cam

Sturgis 2023: Crazy Day after the Storm on Main Street

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Angela Smith's pregnant daughter Terri Harris, 35, was brutally killed by violent psychopath Damien Bendall at her home in Killamarsh, in 2021.<br/><br/>Angela, 57, has since created a charity in Terri's name and now creates care packages for domestic abuse survivors to keep her daughter's memory alive.

Mum whose daughter and grandkids were murdered says life 'never gets easier'

⏲ 4:45 👁 18.2M

Bob u0026 Tam's Excellent Adventures

Walk With Me Through The Exciting Opening Day Of Leesburg Bikefest On Main Street!

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Tony Light Travels

Sturgis 2023 RAW Street WALKER First Person FOOTAGE Part 2

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