January 29, 2011 04:38:38 GMT
Avoiding jail, the former 'Chips' actor was ordered to complete 500 hours of community service during the probation.
Former "Chips" star Larry Wilcox has been sentenced to three years probation for securities fraud. The former TV cop, who starred alongside Erik Estrada in the 1970s U.S. TV series, pleaded guilty to securities fraud conspiracy back in November.
The Securities and Exchange Commission accused the actor of being involved in a bogus company created to generate fake stock sales. The organizers of the scheme were caught in a sting operation conducted by America's Federal Bureau of Investigation (FBI).
Wilcox, 63, was handed his punishment during a court hearing in Fort Lauderdale, Florida on Friday, January 28, when federal judge ordered him to complete 500 hours of community service. He faced a maximum of five years in prison for the crime.