Former CHiPS Star Busted by the SEC
Former television star Larry Wilcox was recently caught in "various illicit kickback schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales” by the SEC.
Wilcox is accused of perpetrating “interrelated kickback schemes with two other penny-stock company executives” according to the SEC, along with more than a dozen penny-stock traders.
This is not a criminal charge, however, as the SEC is currently only seeking an injunction against Wilcox and the others.
After his role on CHiPs alongside Eris Estrada, Wilcox pursued more entrepreneurial endeavors, including forming his own production company and selling vitamins. Wilcox became president and CEO of The UC Hub Group, which is the company being investigated by the SEC.
The UC Hub Group, according to their vague website, “is currently focused on Precious Metals, Gems and the Oil and Gas Industry. The Company is also focused to increase the value for shareholders by doing the proper due diligence to prove economic validity for the acquisition of the target systems, operations, company or companies.”
“From no later than May 2008 through March 2009, Defendants Anthony Mellone, Tri-Star Holdings, Inc., Alex Parsinia, Zcom Networks, Inc., Larry Wilcox, and The UC Hub Group engaged in three related fraudulent kickback schemes for their respective companies’ stock in violation of the federal securities laws. . . As early as August 2008, Mellone introduced Wilcox to the cooperating witness as another individual who might be interested in the kickback scheme. Like Mellone and Parsinia, Wilcox sought investment entities willing to accept kickbacks in exchange for buying large amounts of his company’s stock.”
The full complaint can be read here.
Sources:
“Former 'CHiPs' star is accused of securities fraud” http://www.latimes.com/business/la-fi-chips-sec-20101008,0,3330645.story
“Larry Wilcox” http://en.wikipedia.org/wiki/Larry_Wilcox
Sec V. Anthony Mellone, Alex Parsinia, Larry Wilcox, Macada Holding, Inc. F/K/A Tri-Star Holdings, Inc., Zcom Networks, Inc., And The Uc Hub Group http://sec.gov/litigation/complaints/2010/comp-pr2010-187-wilcox.pdf
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