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Billionaire health-care investor Phillip Frost charged by SEC with pump-and-dump schemes
https://www.marketwatch.com/story/prominent-health-care-investor-phillip-frost-charged-by-sec-with-pump-and-dump-schemes-2018-09-07Billionaire and notable health-care investor Phillip Frost was one of 10 individuals and 10 associated firms charged by the Securities and Exchange Commission on Friday with participating in extremely profitable, yearslong pump-and-dump schemes.
Opko Health Inc. OPK, -18.01% , a pharmaceutical and diagnostics company that Frost founded and led as chairman and chief executive, was also named in the SEC complaint. Opko Health shares dropped 18% in extremely active Friday afternoon trading before they were halted.
Frost, Opko and others were accused of making more than $27 million in stock sales proceeds between 2013 and 2018 by organizing large stock buys and promoting the stock — including through misleading articles and manipulative trading — while failing to properly disclose their stakes.
The scheme left public investors “holding virtually worthless stock,” according to the SEC complaint.
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He's a republican-values guy who is raking in mucho millions moneybucks (BILLIONS) by riding the PROFIT-making "health care INDUSTRY." Basic idea: you proles eat shitty, chemically-saturated mutant "food," get sick, stay sick, consume massive quantities of "health care" pharmaceutical drugs, and me and my republican-values cronies will rake in great heaping gobs of wicked-excellent PROFITS (R).
