'CHiPs' Star Larry Wilcox Accused of Securities Fraud
On Monday, "CHiPs" actor Larry Wilcox was all smiles in Hollywood as he celebrated 10-4 Day, which honors and celebrates the work police officers do. Then came Thursday, when federal regulators went after and charged several penny stock promoters, including Wilcox, according to the LA Times.
Promoters were caught in "various illicit kickback schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales," said the Securities and Exchange Commission.
An undercover sting operation was set up and the charged companies, including Wilcox's UC Hub Group Inc., allegedly "arranged these illegal transactions" with the SEC, U.S. Attorney's Office and FBI.
Wilcox starred in the 1977-83 TV classic "CHiPs" as a motorcycle officer alongside actor Erik Estrada.