Prosecutors said the former TV star was part of an "illicit kickback scheme to manipulate the volume and price of microcap stocks and illegally generate stock sales."
According to the complaint filed by the SEC, the 63-year-old actor created a phony company, the UC HUB Group, through which he received kickbacks from Anthony Mellone, the CEO of Tri-Star Holdings Inc.
The UC Hub Group's website describes the company as focused on precious metals, gems and the oil and gas industry. It also says the group is focused to "increase the value for shareholders by doing the proper due diligence to prove economic validity for the acquisition of" various companies.
Wilcox, who co-starred with Erik Estrada on CHiPs from 1977 to '82, was last seen in the CHiPs '99 movie and The Thundering 8th in 2000.
No up-to-date contact information for Wilcox was immediately available, and no attorney in his behalf has been named.