SEC Alleges Kickback Schemes – CHiPS Returns!
The Securities and Exchange Commission has charged more than a dozen penny stock promoters and their companies with securities fraud for their roles in various illicit kickback schemes to manipulate the volume and price of microcap stocks and illegally generate stock sales. One of the schemes was perpetrated by actor Larry Wilcox, who played officer Jon Baker in the seminal California Highway Patrol motorcycle drama and long-running 1970′s television show CHiPs.
On the TV Show Larry Wilcox portrayed Officer Jonathan A. Baker a California law enforcement highway patrol officer. He starred in the show with Erik Estrada who played Officer Francis (“Frank”) “Ponch” Poncherello.
Here’s a copy of the SEC Complaint against Wilcox et al.
Here’s the introduction from the TV show CHiPS:
And here’s Officers Ponch and Jon in action:
According to the SEC’s complaints filed in U.S. District Court for the Southern District of Florida, the schemes generally involved the payment of kickbacks to purportedly corrupt pension fund managers or stockbrokers, who would use their clients’ accounts to purchase the publicly traded stock of microcap issuers controlled or promoted by the individuals and companies charged today. What the promoters and insiders did not know was that the people with whom they arranged these illegal transactions were actually undercover FBI agents or confidential sources participating in undercover operations.
These allegations relate to Wilcox’s role as President and Chief Executive Officer of The UC Hub Group, Inc, a public company on the Pink-OTCBB under the symbol
(UCHB.PK) which is a mining company on the Montana Mine project, a sapphire and gold production mine. The company was also drilling oil wells in Illinois.
Interestingly UC Hub’s website features the following ominous disclaimer, “UC Hub and management value their reputation for integrity and honest dealing adn take seriously any statements which seek to impugn directly or indirectly UC Hub’s reputation. UC Hub therefore reserves the right to seek legal redress against parties which repeatedly, intentially make false statements which cast UC Hub, its officers and directors in a false light or otherwise unfairly impugn UC Hub’s reputation in any way.“….
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