Former TV cop Larry Wilcox busted by the law

Larry Wilcox became famous various decades ago for playing a cop on “CHiPs.” In an ironic twist of fate, he has been busted by the cops himself. It was not for anything traffic related. A motorcycle was not even involved. Instead, the previous TV star has been sued by the Securities and Exchange Commission. Wilcox became more heavily involved in entrepreneurial ventures after “CHiPs” and his acting career wound down. He is charged with stock fraud by the SEC. Post resource – Larry Wilcox ironically not busted by state patrol by Personal Money Store.

Larry Wilcox gives a chip on the shoulder to SEC

Larry Wilcox delved into various entrepreneurial activities outside of acting to make a living. 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. The SEC alleges that the business, along with others, would give kickbacks to pension fund managers and stock brokers to purchase its stock. We haven’t received any comments from the “CHIPs” star from the late 70s, Larry Wilcox. The scheme is alleged to have been in conjunction with two other penny stock executives, according to the Los Angeles Times.

Real cops catch a fictional cop within the act

The scheme didn’t just get found out. It had been discovered months ago. The kickback scheme was effortlessly caught in the act. It was done with a sting operation. The FBI and also the SEC, had undercover agents out trying to find possible fraud schemes when they stumbled across the business run by actor Larry Wilcox. According to the SEC, there was only one flaw within the scheme. That flaw had been that they forgot about the possibility of undercover agents. Wilcox, one of 12 individuals charged, will face 5 to 25 years in prison, according to CNN.

Do not pass “go” applies here

There haven’t been any comments from Erik Estrada who was Wilcox’s partner Ponch on “CHIPs” as a co-star. Prison is the fate of those committing white collar crimes. The fate of Larry Wilcox remains to be seen.

Citations

CNN

cnn.com/2010/CRIME/10/08/california.chips.arrest/

LA Times

latimes.com/business/la-fi-chips-sec-20101008,,3330645.story