_inside-a-3646-million-renewable-energy-swindle.jpg "Inside A $46 Million Renewable Energy Swindle from bank al hindi movie song Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 15:41
👁 View: 12M times
✓ Published: 28-Apr-2024
👁 View: 12M times
✓ Published: 28-Apr-2024
Description:
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.
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.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_major-banks-ceos-call-on-government-to-ease-lending-rules.webp "The CEOs of the big banks are calling on the Federal Government to ease responsible lending rules put in place after the banking Royal Commission and aimed at protecting borrowers. But consumer groups are warning against changes as new data reveals the number of people in mortgage hardship is reaching crisis levels.")
_shredding-the-oregon-sand-dunes-on-the-2022-yamaha-yfz450r.webp "ATV Rider testing the YFZ450R in the dunes of Winchester Bay.<br/><br/>A sport quad is the best way to experience Oregon’s coastal dunes.<br/><br/>In case you missed it, we already posted our dune ride review of the 2022 Yamaha YFZ450R. Now we want you to experience some of the fun we had riding the YFZ450R with Yamaha and factory Yamaha ATV racer Dustin Nelson. The coastal sand dunes that reside next to the small seaport village of Winchester Bay, Oregon, was our playground. Off-road video guru Ray Gauger shot this amazing footage of the event, and our own digital wizard, Mark Williams, assembled it into this short clip.<br/><br/>If you’ve never been to Winchester Bay, you’re going to want to add it to your bucket list after watching this. Unlike most sand dune OHV locations in other states, Winchester Bay has actual trails that wind through the lower-elevation seagrass and the pine tree-covered peaks of the dunes. The trails venture into the trees with high sandy banks, hairpin twists, and some narrow sections that just cannot be navigated in a side-by-side.<br/><br/>Many will tell you that the best way to experience Winchester Bay is by attending DuneFest, a massive annual gathering of off-roaders that happens every August. And we agree. But on this particular midweek visit, we pretty much had the entire dune system to ourselves.<br/><br/>Enjoy the video!<br/><br/>Full story here: https://www.atvrider.com/story/videos/watch-yamaha-yfz450r-dune-ride-winchester-bay-video/<br/><br/>Video Credit: Ray Gauger videographer / Mark Williams editing")
_what-is-the-history-of-may-day-and-why-was-it-celebrated.webp "We asked people on the streets of Yorkshire.<br/>")
_driver-spots-39lucky39-white-moose-in-canada.webp "A 'lucky' driver spotted a rare white moose in Canada.<br/><br/>Video filmed in Alberta shows the animal walking down a grass bank and crossing the road.<br/><br/>A brown moose follows shortly after - and both then walk into the woods together.<br/><br/>The driver said on X, formerly Twitter, that spotting the moose was a \")
_private-banks-iraq-mp4.webp "private banks iraq.mp4 from bank al hindi movie song")
_driver-spots-39lucky39-white-moose-in-canada.webp "A 'lucky' driver spotted a rare white moose in Canada.<br/><br/>Video filmed in Alberta shows the animal walking down a grass bank and crossing the road.<br/><br/>A brown moose follows shortly after - and both then walk into the woods together.<br/><br/>The driver said on X, formerly Twitter, that spotting the moose was a \")
_london-faces-bank-holiday-washout-with-more-rain-on-the-cards.webp "London faces a bank holiday washout with heavy winds and rain set to hit southern England on Monday, forecasters have warned.The capital is expected to see cloudy and rainy weather with brief sunny spells and gusty winds this weekend.Those planning to spend time outdoors should wear waterproofs with rainfall expected on Saturday and Sunday evening.An area of low pressure over central Europe is currently pushing a warm air plume from the east across parts of the UK, triggering heavy showers and thunderstorms on Friday.")
_international-criminal-court-considering-issuing-arrest-warrant-for-netanyahu.webp "The International Criminal Court is probing Israel's actions in the West Bank and Gaza, independent of other cases at the International Court of Justice, such as South Africa's genocide claims against Israel in Gaza.")
_major-banks-ceos-call-on-government-to-ease-lending-rules.jpg)
_shredding-the-oregon-sand-dunes-on-the-2022-yamaha-yfz450r.jpg)
_what-is-the-history-of-may-day-and-why-was-it-celebrated.jpg)
_driver-spots-39lucky39-white-moose-in-canada.jpg)
_private-banks-iraq-mp4.jpg)
_driver-spots-39lucky39-white-moose-in-canada.jpg)
_london-faces-bank-holiday-washout-with-more-rain-on-the-cards.jpg)
_international-criminal-court-considering-issuing-arrest-warrant-for-netanyahu.jpg)
![[+]](/images/menu.gif){kind=small}