U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19919 / November 20, 2006
SU.S. v. Didier Waroquiers, CR 03-506 (C.D. Cal.)
Didier Waroquiers Barred From Entering United States for Conspiracy to Obstruct SEC Investigation
On October 31, 2006, the Hon. Margaret M. Morrow, U.S. District Judge for the Central District of California, barred Didier Waroquiers, 60, a Belgian national, from entering the United States for a period of five years and ordered him to pay $430,000 based on his guilty plea to conspiracy to obstruct the SEC's enforcement investigation of Reed E. Slatkin. From approximately 1986 until May 2001, Slatkin operated a massive Ponzi scheme in which he raised more than $593 million from approximately 800 investors.
In his plea agreement, Waroquiers admitted that he helped Slatkin and others by providing false brokerage statements and correspondence to the SEC, creating a false European telephone number for fictional foreign entities, and delivering payments for Slatkin to other co-conspirators.
On June 7, 2001, in the SEC's action, the U.S. District Court for the Central District of California entered a judgment of permanent injunction against Slatkin. Slatkin, without admitting or denying the allegations in the complaint, consented to the entry of an injunction from future violations of the federal securities laws. Slatkin has also been barred by the Commission from associating with any investment adviser. On September 3, 2003, Judge Morrow sentenced Slatkin to 14 years in prison for his role in the massive Ponzi scheme. Slatkin pleaded guilty to 15 counts, including conspiracy to obstruct justice during an SEC enforcement investigation.
Additional information can be found in Litigation Release Nos. 16998 (May 11, 2001), 17033 (June 11, 2001), 17444 (March 27, 2002), 17796 (October 22, 2002), 18107 (April 25, 2003), 18323 (September 4, 2003), 18499 (December 10, 2003), 19261 (June 9, 2005), and Advisers Act Release 2006 (January 2, 2002).