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Former 'CHiPs' Actor Sentenced to Probation for Securities Fraud

Last Friday, actor Larry Wilcox was sentenced to three years' probation for conspiracy to commit securities fraud. Wilcox must also complete 500 hours of community service and cannot be involved in any penny-stock companies. Wilcox, 63, played California Highway Patrol Officer Jon Baker in the television show "CHiPs" from 1977 to 1982.

Wilcox pleaded guilty last November to the felony securities fraud charge. The judge presiding over the case noted in his sentencing that Wilcox has shown remorse and accepted responsibility for his crime. He also noted the actor's long-time involvement in community service. Friends sent in letters on Wilcox's behalf and his wife and five children were all present in the courtroom at the time of sentencing.

Wilcox told the judge before sentencing that he had committed securities fraud out of desperation to save his business so that his friends and investors would not lose money they had invested with him. Wilcox went bankrupt trying to save his business with his own money.

According to the Sun Sentinel, in January of 2009, Wilcox unknowingly met with an undercover FBI agent. During the meeting he was covertly videotaped agreeing to an illegal securities fraud scheme. The FBI agent was posing as a pension fund employee who said he would invest the fund in Wilcox's business if he received kickbacks. Wilcox was confronted by FBI agents and shown the videotape, and he later helped the FBI build a criminal case against two other people.

Source:

Former "CHiPs" actor sentenced to probation in Fort Lauderdale (Sun Sentinel)

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