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#508912 - 11/06/15 06:44 PM Stanford Ponzi scheme fugitive captured in San Pedro
Marty Offline

One of the key players in the Ponzi scheme executed by financier Allen Stanford has been apprehended in San Pedro.

Reports indicate that David Nanes Schnitzer, who oversaw Stanfordís operations in Mexico, Panama and other parts of the region, was caught in San Pedro yesterday evening, with the assistance of Interpol and US Marshals.

Nanes Schnitzer is wanted by authorities in Mexico for allegedly helping defraud thousands of investors while serving as president of Stanford Group Mexico.

Investors in Latin America, including in Mexico, Panama and Venezuela, suffered hundreds of millions of dollars in losses when Stanfordís financial empire collapsed.

Stanford is currently serving a 110-year sentence for masterminding a Ponzi scheme involving his Stanford International Bank (SIB) in Antigua where he was based.

Caribbean360


Key player in Ponzi Scheme captured on Ambergris Caye

A key player in one of the largest fraud schemes in history has been caught on Ambergris Caye. According to official reports, David Miguel Nanes Schnitzer was arrested in San Pedro Town on Tuesday, November 3rd following a special operation conducted by the San Pedro Police Department, International Criminal Police Organization (INTERPOL) and the US Marshals Service.

According to police, Nanes Schnitzer had been living in San Pedro for close to three years and had obtained Belizean documents including a passport, driverís license, boat captain license and even a Social Security card. While living here Nanes Schnitzer was under a different name, thus eluding authorities.

Click here to read the rest of the article in the San Pedro Sun


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#508931 - 11/07/15 11:26 AM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Marty Offline

Wanted American pleads guilty to forgery charge

A Mexican American living in San Pedro Town who is alleged to be linked to the Allen Stanford Ponzi scheme uncovered several years ago was brought to court today on a charge of uttering a forged document, to wit a Belizean driverís license SP-2269.

46 year old David Miguel Schnitzer, who gave his address as Grand Caribe Resort, pleaded guilty to the charge, but it is not clear if the matter will be tried summarily or on indictment.

On Tuesday, November 3, 2015 on San Pedro, allegations are that Schnitzer was found in possession of a Belizean Drivers license which he was using as his own but the license was not in his name; instead, it was in another personís name.

He appeared unrepresented before the Chief Magistrate, Anne Marie Smith where a plea was taken from him. He first asked permission to speak before he entered a plea but was told the plea needed to be given first.

Prosecutor, Corporal Christopher Smith informed the court that it is not yet certain if a plea can be taken and accepted from him for this offense, since they are yet to get directives from the DPPís office as to how to proceed with the matter, whether summarily or on indictment and if it is on indictment, then a plea cannot and will not be accepted from him at this time.

The matter was adjourned for Monday, November 9, 2015 where it will be decided if his guilty plea will or can be accepted.

Schnitzer, according to Caribbean 360.com is one of the key players in the scheme executed by financier Allen Stanford of Antigua, and oversaw Stanfordís operations in Mexico, Panama and other parts of the region.

Schnitzer was caught in San Pedro with the assistance of Interpol and US Marshals and is wanted by authorities in Mexico for allegedly helping defraud thousands of investors while serving as president of Stanford Group Mexico.

Investors in Latin America, including in Mexico, Panama and Venezuela, suffered hundreds of millions of dollars in losses when Stanfordís financial empire collapsed, Caribbean 360 writes.

Stanford is currently serving a 110-year sentence for masterminding a Ponzi scheme involving his Stanford International Bank (SIB) in Antigua where he was based.

Breaking Belize News


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#509017 - 11/10/15 11:05 AM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Marty Offline

Mexican Fraudster In Jail For Driversí License

Last week, 7News was the first to report on 47 year-old David Miguel Nanes Schnitzer a fugitive wanted by Interpol and Mexican and US Authorities who was caught on San Pedro. He's believed to be a major player in a multi-billion dollar ponzi scheme with defrauded thousands of investors in Latin America. So tonight, after being on the run, he's at the Belize Central Prison after allegedly being busted with a fake driver's license in San Pedro Town.

So, why is he a big deal internationally right now? Well, an Interpol warrant says that Schnitzer helped convicted financial criminal Allen Stanford to defraud thousands of victims of $7 Billion dollars, the largest fraud scheme in US History.

Investors in this ponzi scheme were focused mainly in Latin America, including Mexico, Panama and Venezuela, and they suffered hundreds of millions of dollars in losses when Stanford's financial empire collapsed. Stanford is serving 110 years in prison for his conviction of financial crimes.

So, back to Schnitzer, he's believed to have had a major hand in this fraud, and international press reports say that he had been on the run for months. That is until last week when he was picked up by San Pedro police when they allegedly caught him with a fake driver's license.

He was charged with uttering upon a forged document, and he was arraigned last week Friday before the Chief Magistrate Ann Marie Smith. That conviction would have been final and binding had the Chief Magistrate sentenced him last week Friday, but she deferred it to today. When the case was called up, the Chief Magistrate was ready to hand him the sentence, but by that time, he had retained the services of Liesje Barrow-Chung.

He and his attorney informed the court that they wished to change his plea from "guilty" to "not guilty". Ordinarily, that would have afforded him an opportunity to get bail, but the police prosecutor objected on the premise that Schnitzer is a flight risk.

Chief Magistrate Smith upheld that objection and remanded him until the next court date. It is expected that Interpol and US Marshals, or Mexican Authorities will make an intervention to try to get custody of Schnitzer from the Belizean authorities.

Channel 7


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#509026 - 11/10/15 12:27 PM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Katie Valk Offline
I know of a few Belizeans bilked by Stanford and part of a class action suit to try to recover, what is probably gone, But can make his life miserable while here in prison
_________________________
Belize based travel specialist
www.belize-trips.com
info@belize-trips.com

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#509029 - 11/10/15 01:04 PM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Judyann H. Offline
We've known Dave for 3 years now....Nothing in our social gatherings indicated this...... We'll have to see how this plays out..... We know of 3 current residents on this island who were picked up in the same manner and were back here within a couple of months.....Several sides to every story.... However we do feel sad for anyone who has lost their money in this manner ........
_________________________
My friends call me Judyann

www.blackorchidrestaurant.com

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#509246 - 11/18/15 10:59 AM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Marty Offline

How Nanes Shnitzer Became David Banes, Belizean Extraordinaire

International fugitive David Nanes Schnitzer is at the Hattieville prison - after being caught in San Pedro two weeks ago. Right now, he's basically on a holding charge for a fake driver's license - until Mexican authorities can figure out a way to get him transferred to their side of the border where he is wanted for his part in a ponzi scheme, where Mexican investors were defrauded of tens of millions of dollars.

So, he's not even being investigated in Belize for all the dubious id's he had. 7News has learned that Nanes Shnitzer changed his named to David Banes - basically taking the "N" out of Nanes and substituting it with a "B". Under that name he got a permanent residency card, a Belizean passport, a driver's license for Belize City, a drivers license for San Pedro, a social security card, a boat master's license, and for good measure, even a voter's ID. Basically Nanes had every type of Belize ID that exists - all under an assumed name. Our sources say that the passport was obtained through the immigration Department - back in 201 or 2011, when the backdoor operations at that Department were in full swing.

And - apart from every ID in the book - he also had major land holdings in Belize. 7news has learned that he and his wife, who is a Mexican, owned several properties, including a home on southern San Pedro which was up for sale, a 60 room condo that was under construction, as well as a property in Hopkins, and various bank accounts. When the US Marshalls caught up with him, he was living in a villa at the Grand Caribe resort on the north end of San Pedro. But that's not where they found him, instead they had to go down to a nearby bar named Prates where he was having a drink.

Nanes arrived in Belize four to five years ago - which is right about when the Allen Stanford Ponzi scheme came to light. Stanford was sentenced to 110 years in the US, and Mexican authorities allege that Nanes Schnitzer headed the Mexican arm of his Ponzi scheme, which allegedly defrauded investors in that country of $42 million dollars. Mexico has a 2011 arrest warrant for Nanes for unauthorized securities transactions.

Now, receivers for the Stanford group are in Belize working with US Marshalls and the FIU trying to locate and assess his assets and holding in Belize, we are informed. It is estimated that the recovery of assets could yield anywhere between 7 and 10 million dollars.

Channel 7


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#509263 - 11/18/15 05:41 PM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
littlestarfish Offline
Familiar face.


Edited by littlestarfish (11/27/15 09:19 PM)

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#509325 - 11/21/15 10:50 AM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Marty Offline
Nanes Gets Bail, Two Days After Bízean Passport Revoked

On Tuesday, we told you about the international fugitive David Nanes Schnitzer, who's been living in Belize under the alias, David Banes. Well, tonight, he's out on bail after the judge determined that he isn't a flight risk.
As we told you, Nanes Schnitzer was picked up by US Marshalls and San Pedro police 2 weeks ago. He was charged for having a fake driver's license - that was just one of many Belizean ID's under the assumed identity of David Banes. He has managed to get hold of a permanent residency card, a Belizean passport, a driver's license for Belize City, a driver's license for San Pedro, a social security card, a boat master's license, and a voter's ID. Because his real identity is now known, the Belizean authorities strongly suspect that fraud was employed to get these official documents.

Bigger legal difficulties await him abroad, specifically in Mexico, where he is wanted in connection with the Allen Stanford Ponzi Scheme. Stanford, who has been sentenced to 110 years in the US, is convicted of defrauding investors of 7 billion dollars. Mexican authorities allege that Nanes Schnitzer headed the Mexican arm of Stanford's Ponzi scheme which allegedly defrauded investors in that country of 42 million dollars. Mexico has a 2011 arrest warrant for him for unauthorized securities transactions.

But, in a court of law, all those reports don't add up to much: only evidence matters, and so, on Wednesday afternoon, when the Director of Public Prosecution's Office was served notice of a bail hearing for Friday, they mobilized to try to gather formal evidence against Schnitzer. And so, with only 2 days notice, Crown Counsel Sabita Maharaj, asked Justice Denis Hanomansingh for an adjournment this morning. The prosecution wanted to have all the information against Nanes Schnitzer to allow the judge to make an informed decision. All the DPP's office had informally was that his nationality was being revoked, and that he was wanted in Mexico.

But, instead of granting an adjournment, Justice Hanomansingh granted bail to the international fugitive!, To come to this decision, he did not need to hear from Schnitzer's attorney, Liesje Barrow. He told the attorneys that he was going to grant it because he doesn't see Nanes Schnitzer as a flight risk. He added that the defendant has businesses here in Belize.

As we've reported, Schnitzer has major holdings in Belize. He and his wife, who is a Mexican, owned several properties, including a home in San Pedro, a 60-room condo that was under construction, a property in Hopkins Village, and various bank accounts. An asset recovery team from Stanford's receivership estimates that his local holdings are between 7 and 10 million dollars - amassed in the approximately five years he ahs been here.

So with those pronouncements in court this morning, Nanes Schnitzer, or Belize's very own David Banes was released bail of $10,000.

But late information to 7News is that his Belizean passport was revoked based on fraudulence - and that happened on Wednesday, November 18th. It was published in the gazette, and that makes it official. So, as of tonight, Banes no longer has a Belizean passport - which would suggest that if he is still in the country, he is here illegally.

A closer look at the gazette entry shows that the minister made the order on November 18th for a, quote, "cessation of citizenship." The actual language of the order is revealing. It says, quote, "whereas it appears to me that David M Banes, known as David Miguel Nanes SchnitzerÖwho was registered as a citizen of Belize as evidenced by certificate of registration dated 17th. November, 2012, was so registered by means of fraud, false representation and the concealment of material circumstance and by mistake." The minister's statement continues, quote, "I do declare that the above mentioned David M. Banes shall hereby cease to be a citizen of Belize." Our information suggests that some of the same players - at the clerical level - who were involved in the Citizen Kim passport - their names also appear on the David Banes passport paper trail.

Channel 7

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#509336 - 11/21/15 12:06 PM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Diane Campbell Offline
Not a flight risk? How the heck did he get here, I ask.
Lesser men have walked across to Guatemala in an afternoon.




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#509337 - 11/21/15 12:16 PM Re: Stanford Ponzi scheme fugitive captured in San Pedro [Re: Marty]
Katie Valk Offline
The very ones who facilitated his paperwork, would prefer he not disclose who did. Which minister could that be?
_________________________
Belize based travel specialist
www.belize-trips.com
info@belize-trips.com

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