Winkler Arrested in Alleged Fonzie Scheme
Posted in Business, News Stories, Television on Sep 23rd, 2009
NEW YORK — Henry Winkler, best known for his role as a leather-clad greaser on the 1970s sitcom Happy Days, was arrested and charged with securities fraud Tuesday in what federal prosecutors called a “Fonzie scheme” that could involve losses of more than $50 billion.
Henry Winkler
Winkler, 63, of Milwaukee, Wisconsin, was charged with twenty counts of securities fraud, according to a statement from the Acting U.S. Attorney for the Southern District of New York, the Federal Bureau of Investigation, and the Screen Actors Guild.
“We are alleging a massive fraud, both in terms of scope and duration,” said SEC Enforcement Bureau director Adam Baum in a statement. “We are moving quickly and decisively to stop the fraud and protect remaining assets for investors, and we are working closely with the criminal authorities to hold Mr. Winkler accountable.”
Winkler did not enter a plea or make any comment during a court hearing Tuesday evening, other than to remark, “Whoa!” and “Aaaay!” while snapping his fingers. Winkler then formed a thrust-forward double thumbs up. He was expected to be released after agreeing to post a $10 million bond secured by Mr. Cunningham.
Fonzie -- no more Happy Days?
Winkler’s firm is known as securities broker dealer, but he also runs a separate business in which he is able to play jukeboxes, turn lights on and off, and start automobile engines by snapping his fingers, or with a slap of his hand.
On Monday, Winkler told two senior employees (Joanie and Chachi) that he was “finished,” that he had “absolutely nothing,” that “it’s all just one big lie,” and that it was “basically, a giant Fonzie scheme,” federal prosecutors said in their statement.
According to a criminal complaint filed on Thursday, in order to supplement the dwindling income from his acting career, Winkler “deceived investors by operating a securities business from Arnold’s Drive-In in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in losses of approximately billions of dollars.”
Fonzie jumps the shark
Earlier this week, Winkler also allegedly told an employee that he wanted to try to restore his credibility by jumping a shark on a pair of water-skis.
