The agency said the schemes it uncovered "generally involved the payment of kickbacks to purportedly corrupt pension fund managers or stockbrokers, who would use their clients' accounts to purchase the publicly traded stock of microcap issuers controlled or promoted by the individuals and companies charged today."
"What the promoters and insiders did not know was that the people with whom they arranged these illegal transactions were actually undercover FBI agents or confidential sources participating in undercover operations," the SEC said.
Wilcox, 63 and a resident of West Hills, "perpetrated interrelated kickback schemes with two other penny-stock company executives," one in Florida and one in Calabasas, the SEC alleged. The agency lists Wilcox's company as UC Hub Group Inc.
His lawyer couldn't be reached for comment.