Nanes Shnitzer Skipped: An Avalanche of Outrage Ensues, Mex. & USA Angry
17 days after being apprehended in connection with one of the largest Ponzi schemes in history, 47-year-old David Miguel Nanes Schnitzer has not only received bail but is also nowhere to be found. Nanes Schnitzer, who was the president of Stanford Group Mexico overseeing operations in Mexico, Panama and other parts of Latin America, and believed to have defrauded over a thousand Mexican investors, had been in custody of the Belize Police Department up to Friday, November 20th. But Supreme Court Judge Denis Hanomansingh granted him bail of $10,000 during his last court hearing, even after Chief Magistrate Anne Marie Smith had denied him bail twice, as he presents a high flight risk. Now, Nanes Schnitzer is nowhere to be found, and police believe he has fled the country.
Being out on bail for forgery required Nanes Schnitzer to surrender all his travelling documents and report to the San Pedro Police Statin twice a week, which he has not done as yet. The leading argument for granting him bail was that he is has businesses in Belize that tie him to the country. Some of his businesses include several properties on Ambergris Caye, a condo development in Hopkins Village and various active bank accounts.
Since then, authorities have not issued any confirmation as to the whereabouts of Nanes Schnitzer, and according to San Pedro Police, they do not believe he is back on the island. Many speculated that he has left the country, violating his bail agreement and is once again on INTERPOL’s wanted list. But whether Nanes Schnitzer left the country or remains here, he is in violation of court orders. If he has fled the country it was illegally done, and is probably under a new identity, as his passport had been revoked as of Wednesday, November 18th. The Ministry of Immigration gazetted “”David M Banes, known as David Miguel Nanes Schnitzer… who 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. I do declare that the above mentioned David M. Banes shall hereby cease to be a citizen of Belize.”
This incident has even caused severe criticism of the Belize Government, and Citizens Organized for Liberty through Action (COLA) has condemned the manner Nanes Schnitzer’s case was handled. COLA questions how the country’s justice system could grant bail to someone accused of such serious crimes not only within Belize but on an international level. “How does Belize’s justice system reconcile granting bail to a man accused of grave crimes, who is no longer a Belizean and never truly was, while two young mothers are sent to jail over the weekend for a relatively minor offence? We are left to ask this following the events involving David Miguel Nanes Schnitzer, a man of many names and even more money, who has apparently managed to comprehensively intrude into Belize, buying everyone in his path, in an attempt to distance himself from one of the largest fraud schemes in history… One crime is not better than another.
Click here to read the rest of the article in the San Pedro Sun