Larry Wilcox, the former star of US TV show CHiPs, has this week completed a finance and debt management course as part of his bankruptcy agreement.
Wilcox is best known for his starring role on the American television action drama series CHiPs, which ran from September 1977 to June 1983. He played Officer Jon Baker alongside Eric Estrada in the role of Officer Francis “Ponch” Poncherello.
The entertainment news website TMZ reported that Wilcox, who has also been a producer and a businessman as well as an actor, was ordered to go on the personal financial management course by a judge as part of his bankruptcy. The aim was to teach the former TV actor how to manage his money properly and hopefully avoid further debt problems in the future.
Wilcox’s money troubles came to light after he pleaded guilty to securities fraud conspiracy in November 2010. Around this time, Wilcox filed for bankruptcy due to debt problems reportedly totalling $1.5 million (£1 million).
He was sentenced in January 2011 to three years’ probation for creating a bogus company in order to generate fake stock sales, and he was also ordered to complete 500 hours of unpaid community service.
As part of the bankruptcy agreement, it was reported that Wilcox’s wife of more than 25 years, Marlene Wilcox, was ordered to complete the two week debt and money management course alongside her husband. The couple completed the course on Monday 13th July, 2011.
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