Friday, October 8, 2010

CHiPs Star Charged With Securities Fraud

Do you remember the 1970s TV show about two California Highway Patrolmen called "CHiPs"?  It was huge in its day, and ended up running from 1977-1983. Erik Estrada (at left in that photo), who played "Ponch," became the much bigger star of the two.  

The actor who played "Jon,"  Larry Wilcox (right), has just been charged with securities fraud. He is alleged to have been involved in a classic 'pump and dump' scheme involving penny stocks, among other things. You can read more about it on the Wall Street Journal website HERE

The quote they pulled from the website of Larry Wilcox's own company was pretty bemusing.  The UC Hub Group, "is currently focused on Precious Metals, Gems and the Oil and Gas Industry. The Company is also focused to [sic] 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."

When I was in college 20 years ago, a friend of mine swore that he once saw Larry Wilcox scalping tickets to a football game outside the LA Coliseum.  I had been sure that was a case of mistaken identity.

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