Former TV cop Larry Wilcox busted by the law

Larry Wilcox, the actor who played the part of Jon on the hit series “CHiPs” has been busted by the law. It was not for going too fast on a motorcycle. The agencies involved were really the Securities and Exchange Commission and the FBI. Wilcox began involving himself in entrepreneurial activities after “CHiPs” wound down as a series. The SEC got involved after some deals he had been involved in looked suspicious. He is being sued and charged with stock fraud.

Larry Wilcox gave SEC a chip on the shoulder

Larry Wilcox decided that acting wasn’t enough. He decided to pursue other things to make more money. One of his most recent ventures, UC Hub Group Inc., attracted the attention of the SEC and the FBI. The business, along with various others are being charged with an illegal kickback scheme. Stock brokers and pension fund managers were, supposedly, being given extra kickbacks to purchase additional stock, says the SEC. We haven’t received any comments from the “CHIPs” star from the late 70s, Larry Wilcox. The Los Angeles Times reports that this was done with two other penny stock executives as well.

Real undercover cops bust a fictional one

The scheme had been uncovered a number of months ago. A sting operation was put in place to catch the kickback scheme within the act. The FBI and the SEC, had undercover agents out looking for possible fraud schemes when they stumbled across the company run by actor Larry Wilcox. The SEC said the conspirators had planned their scheme to the last detail, but forgot to account for undercover agents. 12 individuals were caught in the scheme, including Wilcox. CNN reports that they could all be facing 5 to 25 years in prison.

Do not pass “go”

Former co-star Erik Estrada, who starred as Wilcox’s partner Ponch on “CHiPs,” has not yet commented. Prison is the fate of those committing white collar crimes. Still no details has come about Larry Wilcox’s sentence. We’ll have to wait and find 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