'CHiPs' Larry Wilcox Charged With Securities Fraud
10/7/2010 5:44 PM PT
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.