It is not every day that you’re busted for securities fraud, but that’s exactly what happened to former ChiPs star Larry Wilcox. Federal investigators rung him up Thursday on fraud charges along with about a dozen other penny-stock promoters. This all went down after the SEC found the promoters involved in “various illicit kickback schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales.” Oooh, busted!
The SEC set up a sting operation to catch Larry Wilcox and others in the act. The SEC explained,
What the promoters and insiders did not know was that the people with whom they arranged these illegal transactions were actually undercover FBI agents or confidential sources participating in undercover operations.
I guess that doesn’t only happen on TV!
Larry Wilcox played Jonathan “Jon” Baker of the California Highway Patrol on the popular TV show “CHiPs” in the late 1970s and early ’80s. Last year, Wilcox made a cameo appearance as Officer Baker on NBC’s 30 Rock.