Larry Wilcox, the actor who played the part of Jon on the hit series “CHiPs” has been busted by the law. It had been not for going too fast on a motorcycle. Instead, the former TV star has been sued by the Securities and Exchange Commission. Wilcox became more seriously involved in entrepreneurial ventures after “CHiPs” and his acting career wound down. He is being sued by the SEC for stock fraud.
Chip on the shoulder for SEC by Larry Wilcox
To make the money he needed, Larry Wilcox did more than just acting. The UC Hub Group Inc., was one of his most recent ideas. Interestingly enough, the FBI and SEC were interested in this. It isn’t just this business in trouble. A kickback scheme is being charged to numerous of his companies. The SEC alleges the company, along with others, would give kickbacks to pension fund managers and stock brokers to purchase its stock. We have not received any comments from the “CHIPs” star from the late 70s, Larry Wilcox. Two other penny stock executives were allegedly part of the whole thing also. This is what the Los Angeles Times reports.
Fake cop caught by real cops
It was months ago when the scheme was first discovered. In order to catch the kickback scheme in the act, a sting operation had been started. The Larry Wilcox company was not the original intention. Agents were sent undercover from the FBI and SEC to look for fraud schemes. According to the SEC, there had been only one flaw within the scheme. That flaw was that they forgot about the possibility of undercover agents. CNN reports that Wilcox could spend 5 to 25 years in prison for this which is what 11 other individuals face also.
Don’t pass “go” or collect your money
Erik Estrada hasn’t made any comments about the situation yet. He had been a co-star to Wilcox on “CHIPs”. White collar crimes can come with real prison sentences. Still no info has come about Larry Wilcox’s sentence. We’ll have to wait and discover out what happens.
Information from
CNN
cnn.com/2010/CRIME/10/08/california.chips.arrest/
LA Times
latimes.com/business/la-fi-chips-sec-20101008,,3330645.story
Posted under Arrest Warrant Search
This post was written by admin on October 29, 2010
