Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity Net Worth 2026
Phillip Frost is a Miami billionaire and one of 10 people the SEC charged with fraud on September 7th. He is accused of being a part of when the SEC...
💼 Entrepreneur / Business Mogul · Updated: October 03, 2026 · 3 min read · FamsWorthHQ Financial Desk
Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity — Estimated Net Worth & Financial Dossier
Executive Summary:
Phillip Frost is a Miami billionaire and one of 10 people the SEC charged with fraud on September 7th. He is accused of being a part of when the SEC calls a series of "classic pump and dump schemes" that generated more than $27 million. Frost is the founder of the pharmaceutical company OPKO Health. The SEC alleges that Frost and nine other investors manipulated the stock prices of three companies for their own gain.
Basically, the 10 investors allegedly promoted the companies without admitting that they owned a stake. Then they waited for the stock prices to rise and sold their shares. This meant that the so called retail investors were left holding stock that was nearly worthless. The group is accused of "brazen market manipulation that advanced their financial interests while fleecing innocent investors and undermining the integrity of our securities markets," said Sanjay Wadhwa, senior associate director of the SEC's Division of Enforcement.
Verified Wealth Dossier
Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity — Financial & Wealth Report PDF
Download verified earnings portfolio, business ventures & asset breakdown.
💰 Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity Financial Profile OverviewVerified Benchmark
Estimated Net Worth
$125.1 Billion
Annual Salary / Earnings
$18.1 Billion / year
Monthly Income
~$1.5 Billion / month
Primary Wealth Sources
Business Ownership, Investments, Real Estate, Equity Holdings
Known Assets & Portfolio
Real Estate, Luxury Vehicles, Business Investments
Nationality / Origin
American
Industry / Category
💼 Entrepreneur / Business Mogul
Data Last Updated
November 2026
Biography & Early Wealth Journey
BRYAN R. SMITH/AFP/Getty Images
Both Frost and OPKO Heath are named in the suit. The SEC believes that Frost allegedly participated in two of the three pump and dump schemes that earned him about $1.1 million. Frost has a net worth of $3.7 billion. In a statement, OPKO Health said that the SEC did not notify them of their plan to file a lawsuit and said the complaint was riddled with "serious factual inaccuracies." The company said that if the SEC had followed its own standard procedures, Frost and OPKO would have happily provided documentation that answered a number of the SEC's questions and cleared Frost and OPKO of the charges.
The pump and dump scheme was reportedly spearheaded by South Florida businessman Barry Honig. He is one of the biggest shareholders in the cryptocurrency company Riot Blockchain Inc. The virtual currency company's stock took a nosedive of 24.3% after the news of the fraud charges broke. Riot Blockchain was subpoenaed in April as part of a formal SEC investigation. Honig is believed to be the primary ringleader who asked the other defendants in the case to buy or sell stock, engage in promoting the companies, among other things. Honig allegedly made more than $3.4 million while running the pump and dump scheme.
Frequently Asked Questions
What is Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity's net worth in 2026?
As of 2026, Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity's estimated net worth is $125.1 Billion.
How does Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity make money?
Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity generates income primarily through Business Ownership, Investments, Real Estate, Equity Holdings.
What are Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity's biggest assets?
They maintain a diverse portfolio including Real Estate, Luxury Vehicles, and Business Investments.
How much does Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity earn per year?
Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity brings in approximately $18.1 Billion in annual earnings.
Is Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity a millionaire or billionaire?
Yes, Miami Billionaire Charged In $27 Million Fraud Scheme | Celebrity is a billionaire.
Financial Valuation Disclaimer: All net worth figures, annual salaries, and asset estimates presented on FamsWorthHQ are formulated using publicly accessible data, corporate filings, industry contract disclosures, and proprietary statistical modeling. Unless explicitly designated, figures represent estimated calculations and should be referenced for informational and comparative entertainment purposes.
