Ironically California Highway Patrol weren't who busted Larry Wilcox

Irony is rife as previous TV cop from “CHiPs” Larry Wilcox is busted by the authorities. It was not for anything traffic related. A motorcycle was not even involved. He was really busted by federal agents. The FBI and Securities and Exchange Commission were the agencies involved. Wilcox became more intensely involved in entrepreneurial ventures after “CHiPs” and his acting career wound down. He is charged with stock fraud by the SEC. Source of article – Larry Wilcox ironically not busted by state patrol by Personal Money Store.

SEC gets a chip on the shoulder from Larry Wilcox

To make the money he needed, Larry Wilcox did more than just acting. One of his most recent ventures, UC Hub Group Inc., attracted the attention of the SEC and also the FBI. He is being charged with a kickback scheme on more than just this business. The SEC alleges that the company, along with others, would give kickbacks to pension fund managers and stock brokers to purchase its stock. We have not received any comments from the “CHIPs” star from the late 70s, Larry Wilcox. Two other penny stock executives were allegedly part of the whole thing also. This is what the Los Angeles Times reports.

Fake cop caught by real cops

The scheme was uncovered various months ago. A sting operation had been put in place to catch the kickback scheme in the act. Both the FBI and SEC put undercover agents in there to try to find fraud schemes before the business run by Larry Wilcox had been found. According to the SEC, there had been only one flaw in the scheme. That flaw was 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.

Don’t pass “go” or collect your money

Former co-star Erik Estrada, who starred as Wilcox’s partner Ponch on “CHiPs,” has not yet commented. White collar crimes may seem innocent enough. They do come with a prison sentence though. Still no details has come about Larry Wilcox’s sentence. We’ll have to wait and find out what happens.

Info from

CNN

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

LA Times

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