On February 11, 2026, Jonathan D. Frost, age 42, of Soddy Daisy, Tennessee, stood before a federal judge in Chattanooga and admitted guilt to three felonies.
Frost, facing United States Magistrate Judge Christopher H. Steger, gave up his right to a grand jury indictment and pleaded guilty to every charge against him: conspiracy to commit wire fraud, conspiracy to commit money laundering, and conspiracy to defraud the United States.
According to the facts laid out in the written plea agreement, Frost participated in a scheme in which investments were solicited for the purpose of building and operating a facility that would use solar power to extract hydrogen gas from water.
However, the funds raised were never used to build a hydrogen plant but were instead diverted for personal use by Frost and his co-conspirators. In the plea agreement, Frost agreed to a monetary judgment of not less than $70,000,000 being taken against him.
The plea agreement filed with the court indicates there is no agreement regarding the sentence to be imposed. It will be determined by the judge at the time of sentencing. A sentencing hearing before Chief United States District Judge Travis R. McDonough is currently set for August 7, 2026.
Frost faces a combined total of up to 45 years in federal prison.
This case is prosecuted by the United States Attorney’s Office for the Eastern District of Tennessee and investigated by the Federal Bureau of Investigation. Assistant United States Attorneys Frank Dale, Christopher Poole, and Frank Clark represent the United States.
The Eastern District of Tennessee Victim Witness Program has established the following website to provide victims of the scam with important notifications and updates concerning the case: https://www.justice.gov/usao-edtn/victim-witness-assistance.
The FBI encourages anyone who invested money as part of this scheme to contact Hydrogen-Victims@fbi.gov.