Other Frost lawsuits, legal issues
› October 2021: A Tennessee judge ordered Frost to comply with an IRS summons, a federal court order shows.
› September 2023: Chattanooga accounting firm Croft & Frost abruptly laid off all of its employees and shut its doors, and Tennessee regulators issued a consumer alert for its clients.
› June 2023: Former clients of Croft & Frost filed a malpractice lawsuit for abruptly closing before a key tax date.
› June 2023: A California investor who allegedly bought $500,000 in shares of a green energy company from Frost filed a lawsuit that demanded repayment for the alleged sham investment.
› Oct. 2023: An array of firms tied to Frost and his firm filed several lawsuits after defaulting on loans made to Frost, Croft and associated businesses.
› Nov. 2023: An Arizona man and a New York moneylender filed a lawsuit alleging they sent Frost and Croft millions of dollars that they were supposed to receive back quickly with interest, but Frost and Croft defaulted on their agreement.
› Dec. 2023: Frost’s business partner, Doug McCloy, filed a lawsuit in Hamilton County accusing Frost of siphoning off money from their company to back unrelated ventures.
› Feb. 2024: Frost and his firm, Croft & Frost, permanently surrender their accounting licenses to operate in Tennessee due to 18 complaints against him filed with the State Board of Accountancy. The agency said it did not pursue further penalties because of ongoing federal criminal investigations.
› March 2024: A South Carolina-based bank filed a lawsuit in Hamilton County Circuit Court alleging Frost owed the financial institution about $127,000 plus interest, according to previous reporting.