Jonathan D. Frost Pleads Guilty To Three Felony Charges Related To $70 Million Dollar Fraud Scheme

KNOXVILLE, Tenn. On February 11, 2026, Jonathan D. Frost, 42, of Soddy Daisy, Tennessee, entered pleas of guilty to three felonies at the federal courthouse in downtown Chattanooga.

Appearing before United States Magistrate Judge Christopher H. Steger, Frost waived his right to indictment by a grand jury and entered guilty pleas to all counts in the charging document. The specific charges include 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 that were raised were never used for building a hydrogen plant but were instead converted to the personal use of Frost and his co-conspirators. In the plea agreement, Frost agreed to a monetary judgment being taken against him of not less than $70,000,000.

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 up to a combined 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 [email protected].

###