By Ben Rooney, Staff Reporter 28th January 2011: 06.07 AND clock NEW YORK (CNNMoney) - Larry Wilcox, actor, Officer Jon Baker on the TV show of the 1970 play "Chips" was sentenced Friday to three years probation by a judge in Florida for conspiracy to commit securities fraud.
Wilcox pleaded guilty in November and has cooperated with authorities, according to the court in a file. In addition to serving three years probation, ordered 500 hours of community service to perform and pay $ 100.
In collaboration with Erik Estrada as Officer "Ponch" Poncherello Wilcox started the show about two good capped, motorcycle California Highway Patrol from 1977 to 1983.
The Securities and Exchange Commission charged Wilcox in October with the payment of bribes to managers of pension funds and broker for the volume and price of the penny stock manipulation and illegal sales from stocks.
The scheme involved more than a dozen other penny stock promoters and the SEC has worked closely with the authorities of the FBI and Florida in an investigation that involved "covert operations".
Wilcox faces up to five years in prison, but Judge James I. Cohn decided he deserved a lighter sentence.
Penny Stocks are, as its name suggests, known as shares of small business often unclear which are traded on a market, the Pink Sheet.
Wilcox lawyer William Leon Richey immediately respond to requests for comment.
Published: January 28, 2011: 17.57 AND clock
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