Posted On: December 3, 2010 by Blum Law Group

Former Television Star Pleads Guilty to Securities Fraud

Larry Wilcox, known for his role as Officer Jonathan Baker on the hit television show “ChiPs,” pleaded guilty last month to a charge of conspiracy to commit securities fraud after undercover agents busted the television star attempting to defraud a pension fund.

Wilcox travelled to Broward County, Florida, on behalf of his company UC Hub Group, a corporation that purports to operate gold mines. While in South Florida, he met with an undercover agent who was posing as a fiduciary to a pension fund. Wilcox agreed to scam investors by arranging a deal with the undercover agent to have the pension fund purchase UC Hub Group stock at inflated prices in exchange for kickbacks. Under the alleged agreement, Wilcox agreed to pay the undercover agent a 40 percent commission for his role in the fraud.

Payments were sent to Wilcox in $20,000 increments and Wilcox or his co-conspirators, in turn, submitted kickback payments in $8,000 increments to an undisclosed Coral Springs, Florida location.

The television star faces up to five years in prison and a fine up to $250,000.

Blum Law Group is a nationally recognized law firm dedicated to the practice of securities litigation. If you lost money as a result of securities fraud, contact Blum Law Group for a no-cost consultation.

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