By Mason Edwards
Chattanooga Times Free Press, Tenn.
(TNS)
Investors in former Chattanooga accountant Jonathan Frost’s hydrogen plant investment scheme are encouraged to email the FBI and access a website with case updates, according to a press release.
The website and email address were announced after Frost, 42, pleaded guilty to three federal financial crimes at the downtown federal courthouse Wednesday. Around 11 of his friends and family attended the hearing.
When a prosecutor asked if any of Frost’s victims were present in the courtroom, no one came forward.
As part of a plea deal, Frost admitted to participating in a clean energy investment scheme that lasted from around 2020 to September 2023, according to a United States Attorney’s Office for the Eastern District of Tennessee press release.
Frost and his coconspirators funneled investors’ dollars, which victims believed were intended to build and operate a facility that would use solar power to extract hydrogen gas from water, for personal use, according to the plea deal.
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Frost’s lawyer, Lee Davis, said by text that his client has accepted responsibility by pleading guilty to the charges.
“The plea agreement reflects a resolution of the case without the need for trial,” Davis said. “We respect the judicial process and will focus our efforts on presenting all relevant information to the court at sentencing.”
Frost faces up to 45 years in prison and accepted that he would, unless otherwise negotiated, owe the government no less than $70 million, according to his plea agreement. Frost also faces up to $850,000 in fines, not including special assessments, forfeitures and restitution.
There are no minimum mandatory sentences for his three charges, which are conspiracy to commit wire fraud, conspiracy to defraud the government and conspiracy to commit money laundering. Frost will no longer be able to vote, serve on a jury, own firearms or run for public office.
Three federal prosecutors, Frank Dale, Christopher Poole and Frank Clark, are representing the United States, according to the press release. Spokesperson Rachelle Barnes did not immediately answer an email seeking comment regarding the press release.
Dale said during Frost’s hearing that there were no dropped charges under the plea bargain. A sealed version of the plea agreement has also been filed, according to court records.
Victims can email federal investigators at Hydrogen-Victims@fbi.gov, according to the press release. The government website lists a case summary, court history, court dates and Frost’s custody status, as he is out on a $10,000 bond pending his Aug. 7 sentencing.
Frost surrendered his passport, must provide a DNA sample and report to a probation officer, among other conditions, while on bond. He also has to refrain from any use of alcohol and illegal drugs and report any law enforcement encounters to his probation officer.
While Frost pleaded guilty in court, Chief U.S. District Judge Travis R. McDonough is not required to accept the agreement, and he can impose a sentence more or less severe than anticipated.
The plea deal had Frost agree to help the government identify and recover any assets subject to forfeiture, but according to one attorney representing Frost’s former investors in civil actions, it’s unlikely victims will see restitution.
Other civil judgments granted against Frost haven’t been successful in recouping losses, Chicago-based lawyer Alex Loftus said, as the money was spent keeping the alleged scheme going.
If the plea agreement goes through, the associated criminal judgment against Frost will be more permanent than the civil judgments, Loftus said. Criminal judgments cannot be discharged through bankruptcy.
Photo caption: Jonathan Frost (via his YouTube page)
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© 2026 the Chattanooga Times/Free Press (Chattanooga, Tenn.). Visit www.timesfreepress.com. Distributed by Tribune Content Agency LLC.
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