Troubled former CHIPS star LARRY WILCOX has filed for bankruptcy.
The actor is currently facing criminal charges after officials at America's Securities and Exchange Commission accused him of being part of a bogus company created to generate fake stock sales.
It has now been revealed that the 63 year old has filed for bankruptcy amid claims his debts total more than $1.5 million (£1 million).
Wilcox also allegedly owes more than $5,500 (£3,666) in state and federal taxes, according to The Detroit News.
Corgan took to Instagram to confirm rumours of new Pumpkins material, saying the first songs could arrive as early as May.