'CHiPs' Larry Wilcox Charged With Securities Fraud

10/7/2010 5:44 PM PDT
Larry Wilcox of "CHiPs" fame has just been charged with securities fraud.

The Securities and Exchange Commission just charged Wilcox and more than a dozen others with allegedly manipulating the volume and price of penny stocks to illegally generate stock sales.  Translation: Wilcox and the others allegedly set up a phony company to generate bogus stock sales.

This is not a criminal charge.  The SEC is asking for an injunction against Wilcox and some of the others, as well as financial penalties.