CHiPs star Larry Wilcox nailed for securities fraud
October 8th, 2010 - 10:59 pm ICT by Aishwarya Bhatt“CHiPs” actor Larry Wilcox of West Hills in California has been charged with securities fraud by federal regulators in the United States.
Wilcox who is famous for his role in the 1970s series “CHiPs” is alleged to be involved in a scheme that involved in kickback operations. The Securities and Exchange Commission in the United States says there were more than a dozen small company stock promoters that were involved in the scheme.
The 63-year-old actor has been charged with the offense by the federal officials. The SEC says they have filed the lawsuit in Miami Federal Court against Wilcox and the all the other crooks who have so far been identified in the scheme.
According to SEC, the scheme was identified after FBI undercover agents offered to pay kickbacks to pension fund managers and stockbrokers in exchange with using the company’s clients’ funds to buy penny stocks. The schemers fell for the FBI undercover ploy and they were rounded up.
Wilcox played Officer Jonathan “Jon” Baker on “ChiPs” in the 1970s.
His lawyers did not comment on the news, when reporters contacted them.
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