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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.")
_how-a-363-hotdog-uncovered-a-3624-7-million-lottery-scam.webp "Vince Vintage")
_scam-hot-chicks-at-the-bar.webp "Scam Nation")
_australians-reported-record-number-of-scams-causing-enormous-losses.webp "Australians are reporting a record number of scams more than 1,500 every day causing enormous losses, especially for older people. Despite that authorities are hopeful system-wide changes are beginning to have a positive impact but victims and consumer groups say it's nowhere near enough.")
_scam-call-turns-nuclear-over-expected-361m-fortune.webp "Kitboga")
_best-irs-scam-phone-call-ever.webp "Hot Chicken")
_report-reveals-australians-lost-362-7-billion-to-scams-in-2023.webp "Data released by the Australian competition and consumer commission has shown scammers stole billions of dollars from Australians last year and older people are often the targets.")
_i-made-an-animated-tv-short-from-a-scam-phone-call.webp "Kitboga")
_scammer-forgets-to-mute-embarrassing-scam-fail.webp "Kitboga")
_sahil-khan-arrested-in-mahadev-betting-app-case-actor-sent-to-police-custody-till-may-1.webp "The Mumbai Police arrested actor and influencer Sahil Khan for his alleged involvement in the Mahadev betting app case. He was apprehended by the Mumbai cyber cell’s Special Investigating Team (SIT) in Chhattisgarh after his plea for pre-arrest bail was rejected by the Bombay High Court. He has been sent to police custody till May 1. According to the police, Sahil was the partner in Lotus App 247. After being brought to Mumbai, the actor said, “I believe in the judiciary of the country.”<br/>")
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_romance-scam-victim-meets-woman-after-4-years.webp "Catfished")
_is-brothers-ex-a-scam-artist-124-part-1.webp "Hot Bench")
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