Derek Wachob net worth became a common search after the former Paragon Industries CEO pleaded guilty to federal wire fraud in July 2026. For years, Wachob led a family steel pipe company in Sapulpa, Oklahoma. His parents started that business with a small machine shop in 1970. However, his public image changed in November 2025, when federal prosecutors in New York charged him in a fraud case worth at least $66 million. As a result, many readers now want to know what he actually owns. This article explains what public records and news reports show about his money, his career, and his legal case. Still, no reputable outlet has published a reliable figure for his wealth. So we stick to documented facts instead of guesses. To learn how we handle cases like this, read how we estimate net worth.
Derek Wachob Quick Facts
| Name | Derek Wachob |
| Known for | Former CEO of Paragon Industries, a steel pipe maker |
| Home base | Sapulpa, Oklahoma |
| Age (per U.S. Justice Department) | 53 as of July 2026 |
| Parents | Jack and Linda Wachob, founders of the family business |
| Industry | Steel pipe for oilfield, construction, and fire protection use |
| Legal status | Pleaded guilty to one count of wire fraud on July 27, 2026 |
| Sentencing | Scheduled for November 17, 2026 |
| Estimated net worth | No reliable published estimate exists |
Derek Wachob Net Worth
No reputable news outlet or public record gives a reliable number for Derek Wachob’s wealth. Court records show heavy debts, an unpaid $26 million settlement, and a fraud case of at least $66 million. Because of that, any single figure would be a guess, and we do not publish one.
How Derek Wachob Made His Money
Running Paragon Industries
Wachob’s main income came from leading Paragon Industries. In 2021, the Sapulpa Times called Paragon one of the leading pipe makers in the world and said the business had supported up to 650 jobs. Public reports do not list his salary or bonus.
Family Business Ties and Derek Wachob Net Worth
Paragon grew out of a family company, so family ownership matters here. For example, the company’s 2025 bankruptcy papers listed more than $77.7 million owed to the Wachob Irrevocable Trust, which held a security interest in nearly all company assets. However, public reports do not say how that trust splits its value among family members.
Real Estate and Luxury Assets
Federal prosecutors said Wachob spent victims’ money on luxury cars, vacation homes, private jets, helicopters, and yachts. In addition, a federal judge found that he had not paid a $26 million settlement to two former investors. Courts then targeted a yacht, a Florida home, and a Glenpool commercial property. Meanwhile, News On 6 reported in July 2026 that Wachob won that Glenpool property back at a sheriff’s sale with a bid of $1,806,000.
Early Life and the Wachob Family Business
Derek’s story starts with his parents. His father, Jack Wachob, grew up in Muskogee, Oklahoma, in a family that worked in oil. Jack later played college football at the University of Wyoming and served in the U.S. Army in Vietnam. Jack and Linda married in 1963 and settled in Sapulpa.
In 1970, the couple bought Sapulpa Machine and Tool, a small shop that served drilling contractors. By 1974, they had moved into oilfield surplus sales. Also, a 2021 trade obituary said Jack began preparing Derek, one of his two sons, to run the business in 1990.
Career at Paragon Industries
Under Derek, Paragon made steel pipe for oilfield, transmission, construction, mechanical, and fire protection work. It ran a main plant in Sapulpa and a slitter site in Muskogee. By 2021, local news named him CEO. Sources differ on the founding date, though. Family histories trace the business to 1970, while the bankruptcy filing lists 1982.
Trouble began to show in 2022. Later, rising steel costs, weaker demand, and unpaid customer bills hurt the company. In March 2025, a court appointed a temporary receiver in a lender’s lawsuit. Then, on May 22, 2025, Paragon filed for Chapter 11 bankruptcy in the Eastern District of Oklahoma. At that point, it had about 74 workers and faced 15 lawsuits.
The Fraud Case Behind Derek Wachob Net Worth Questions
On November 18, 2025, the U.S. Attorney’s Office for the Southern District of New York announced a wire fraud charge against Wachob. Prosecutors said that from about October 2022 to August 2024, he took at least $66 million from individual investors, a bank, an investment firm, and at least two steel pipe distributors. According to the charge, he pitched deals tied to future steel purchases. Some of the people who lost money were close friends.
Afterward, a Tulsa federal judge released him on a $1 million bond. On July 27, 2026, Wachob pleaded guilty before U.S. District Judge J. Paul Oetken. U.S. Attorney Jay Clayton said “the success he projected was a fiction sustained by fraud.” The charge carries a maximum of 20 years in prison, and the judge will decide the actual sentence.
Personal Life
Wachob lives in Sapulpa, near Paragon’s headquarters. His father, Jack, died in 2021, and the family held a memorial in Tulsa that October. Beyond that, Wachob keeps his family life private. So we do not share details that are not part of the public record.
Last updated: October 2026
Conclusion on Derek Wachob Net Worth
Derek Wachob once ran one of Oklahoma’s best-known family manufacturers. However, his company went bankrupt in 2025, and he admitted to wire fraud in 2026. Large debts, court judgments, and seized assets make his true wealth hard to measure. For now, the honest answer is that no reliable figure exists. For more profiles like this, browse our Net Worth section, or read about Buster Murdaugh’s finances.
Frequently Asked Questions
What is Derek Wachob net worth?
No reputable source has published a reliable figure. His debts, an unpaid $26 million settlement, and a $66 million fraud case make any estimate unreliable.
Who is Derek Wachob?
He is the former CEO of Paragon Industries, a steel pipe maker in Sapulpa, Oklahoma. His parents, Jack and Linda Wachob, built the family business.
How did the fraud case affect Derek Wachob net worth?
The case led to court action against his assets. For example, courts targeted a yacht, a Florida home, and commercial land to cover an unpaid settlement.
Did Derek Wachob plead guilty?
Yes. He pleaded guilty to one count of wire fraud in Manhattan federal court on July 27, 2026. His sentencing is set for November 17, 2026.
Does Derek Wachob net worth include Paragon Industries?
Not in any clear way. Paragon filed for bankruptcy in May 2025, and a family trust held claims on nearly all of its assets.
Sources
- U.S. Attorney’s Office, Southern District of New York, charge announcement, November 18, 2025
- U.S. Attorney’s Office, Southern District of New York, guilty plea announcement, July 27, 2026
- News On 6, report on the Glenpool sheriff’s sale, July 1, 2026
- Oklahoma Energy Today, report on the federal fraud case, November 19, 2025
- Sapulpa Times, Jack and Linda Wachob Citizens of the Year article, June 14, 2021
- PHCP Pros, obituary of Paragon Industries founder Jack E. Wachob, November 3, 2021
- U.S. Bankruptcy Court, Eastern District of Oklahoma, Paragon Industries Chapter 11 case (Case No. 25-80433), as summarized by Stretto, May 2025