Larry Wilcox of ChiPs Gets Probation for Securities Fraud

01/28/2011 at 02:00 PM EST

Larry Wilcox of ChiPs Gets Probation for Securities Fraud
Larry Wilcox
Ali Goldstein/NBC/AP
Ponch would not be happy.

ChiPs star Larry Wilcox, who played Jonathan "Jon" Baker alongside Erik Estrada's Frank "Ponch" Poncherello character on the iconic 1970s TV series, was sentenced in a Ft. Lauderdale courtroom Friday to three years' probation for conspiring to commit securities fraud.

In sentencing Wilcox, 63, U.S. District Judge James I. Cohn said, "I think we got an individual who is truly remorseful. He should not be punished because of his celebrity status."

Wilcox had faced a maximum five years in prison. He was also ordered to pay a $100-fine and given 500 hours of community service. According to NBC News, as his wife sobbed in the courtroom, Wilcox told the judge he was financially broke.

His charges stemmed from a scheme in which Wilcox allegedly profited from an employee pension fund through kickbacks. He reportedly was caught during an FBI sting in South Florida.

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