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Actor Larry Wilcox Charged With Fraud in Stock Scheme
Actor Larry Wilcox, best known for his role in the hit 70’s TV show “CHiPs,” has been charged with fraud in a kickback scheme. The U.S. Securities and Exchange Commission said Thursday that Wilcox and 11 others were caught manipulating stock prices by undercover federal agents.
"The schemes generally involved the payment of kickbacks to purportedly corrupt pension fund managers or stockbrokers, who would use their clients' accounts to purchase the publicly traded stock," the SEC said in a statement Thursday.
Wilcox, 63, has been charged with conspiracy, securities fraud, mail fraud and wire fraud among other things. If convicted, Wilcox, who owns UC Hub Group, faces 25 years in prison.
“These corrupt promoters meticulously planned their schemes down to the last detail, except for the possibility that they were walking into an undercover operation,” said the director of the enforcement division Securities Exchange Commission.
Wilcox played police officer Jonathan Baker on “CHiPs,” which ran on NBC from 1977 to 1983.
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