AmbergrisCaye.com Home

Stanford Ponzi scheme fugitive captured in San Pedro

Posted By: Marty

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


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 Stanford’s 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 Stanford’s 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, driver’s 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

Posted By: Katie Valk

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/10/15 12:27 PM

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
Posted By: Judyann H.

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/10/15 01:04 PM

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 ........
Posted By: littlestarfish

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/18/15 05:41 PM

Familiar face.
Posted By: Diane Campbell

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/21/15 12:06 PM

Not a flight risk? How the heck did he get here, I ask.
Lesser men have walked across to Guatemala in an afternoon.



Posted By: Katie Valk

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/21/15 12:16 PM

The very ones who facilitated his paperwork, would prefer he not disclose who did. Which minister could that be?
Posted By: Diane Campbell

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/24/15 11:02 AM

According to the news, he was to have reported to San Pedro police station yesterday and predictably, was a no-show.
What a mockery of justice.
Posted By: Nobody You Know

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/24/15 01:58 PM

HAHAHAHAHA, shocking...
Posted By: Welland

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/24/15 10:21 PM

He is a crook, not an idiot.
Posted By: Marty

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/25/15 11:01 AM

Nanes-Schnitzer assets frozen in Mexico

David Nanes Schnitzer, the man who had managed to slip his way into Belize’s system under a false name while attaining official documents ranging from social security card to driver’s license and Belizean nationality. As we heard from Minister Godwin Hulse yesterday, that nationality was revoked and immigration officials are now on the lookout for Nanes-Schnitzer. Just last week, after being remanded for about two weeks, he was released on a ten thousand dollar bail as he was not deemed a flight risk considering the investments, he and his wife reportedly have in Belize.

But yesterday Nanes-Schnitzer was to report to the police station as part of the conditions of his bail but he never showed up. While there is no aggressive hunt by the authorities for the man who is wanted by Mexican authorities for involvement in a Ponzi scheme, both police and immigration officials are on the alert. As it pertains to his assets here in Belize, we have been unable to ascertain whether those were freeze but according to a Mexican newspaper, once he was found to be involved in the scheme, his assets in Mexico were frozen.

Cola speaks on fugitive’s case

While the general public may not be overly concerned over the whereabouts of Nanes-Schnitizer or the crimes he is being accused of, the Coalition Organized for Liberty through Action (COLA) has made a re-appearance via a release being issued on the matter whilst comparing it to recent local incidents. The release begins by asking the question, “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?” The release went on to question the systems in place for vetting a foreigner prior to being nationalized as well as the Attorney General, as it pertains to the standards for bail.

The document reads, quote, “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. Meanwhile, these born Belizean young women and parents can’t even get the two top Magistrates to reconsider opening their case after indicating an intent to plead guilty to their crime, depriving them of an opportunity to return to their children. One crime is not better than another. We make no defense of the women, but neither do we condone David Schnitzer. Admission to bail is a right, not a privilege. After the facts of the case have been considered, the Magistrate or Judge is to act in the interest of the citizenry, but even more importantly, in the interest of the accused, who otherwise faces being held against his or her will. It has not escaped us that Schnitzer lost his Belizean nationality after it was found that he obtained it with false information, given to some of the same people who facilitated the Citizen Kim matter. And he got that fraudulent nationality three years ago, less than a year before Kim attempted to get his. The David Schnitzer matter deserves full and thorough investigation. We need to hear publicly from the Minister for Immigration and Nationality, the so-called “Lockdown Minister”, to find out why he couldn’t lock this one down. We need to hear from the new Attorney General, to say what standards are in place for bail grant and procedure. And also, from the Minister of National Security, about why Schnitzer was not properly vetted by his agencies before being allowed improperly to share a piece of the Jewel. COLA will not remain silent. Our mission is to remove every last fetter on the liberty of our people, and we will not falter, we will not fail. Injustice anywhere is a threat to justice everywhere!”

PUP raises concern over fugitive’s Belizean Documents

Also expressing concern over the recent David Nanes-Schnitzer issue was the opposition party, the PUP. They too issued a release earlier today that reads, quote, “The People’s United Party (PUP) records its deep dis-satisfaction with the handling of the case of international fugitive David Miguel Nanes Schnitzer aka “David Banes” by the Ministries of National Security and Immigration and expresses urgent concern with the apparent dereliction of duty by both those Ministries in this matter.

Although it was clear, two weeks ago that Nanes Schnitzer has obtained permanent residence, citizenship and a passport in Belize, and his Belizean citizenship was reportedly revoked and passport cancelled based on fraud on Wednesday, November 18, 2015, it is clear that no proper investigation on the matter was in fact done. The Gazette entry states that the Minister of Immigration made the order stating that, “whereas it appears to me that 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.

The Statement of the Minister of Immigration in the Gazette is that “I do declare that the above mentioned David M. Banes shall hereby cease to be a citizen of Belize.” It is critical to note that Nanes Schnitzer was never charged by any authority in Belize with obtaining nationality by “fraud, false representation and the concealment of material circumstance”. This demands an immediate explanation from both the Ministry of Immigration and the Ministry of National Security, both of whom should have acted immediately to ensure that a criminal complaint was made on behalf of the state. Their failure to act is an inexplicable and severe dereliction of duty and gross negligence of our national security concerns.

Published media reports indicate that the names of “some of the same players” that were involved in the Won Hong Kim passport scandal, “also appear on the David Banes passport paper trail”. On that basis, the People’s United Party demands that the Prime Minister table with immediate effect, at the next sitting of the House of Representatives on December 4, 2015, the report of the Auditor General on the Immigration Scandal and the irregularities observed by her office in respect of the “Pennergate” investigation.

LOVEFM

Posted By: Marty

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/25/15 12:14 PM

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



Posted By: Che

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/26/15 10:02 PM

[Linked Image]


Justice Denis Hanomansingh
Moron

the news later
Posted By: Nobody You Know

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/27/15 06:14 PM

Smarten up Belize. You can't live on Taiwanese largess alone. You can hardly afford to annoy 2 allies such as Mexico and the US over a relatively small amount of bribe money from a well known wanted criminal.Particularly one wanted for major crimes in both...
Posted By: Shyboy

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 11/28/15 02:36 AM

A judicial DISGRACE and an embarrassment to the entire country......
Posted By: seashell

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 12/01/15 06:24 AM

Barrow says: " I have my own views about that determination of the court, but you know in this country, we respect judges.”

LOL, not to mention following the laws . . .

And this whole situation, what an incredible farce.


Posted By: Nobody You Know

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 12/05/15 01:38 PM

Such flowery articulate prose solely to say,"we are all corrupt criminals without the slightest regard for our citizens."
Posted By: Diane Campbell

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 12/05/15 02:46 PM

Well its going to get interesting shortly with certain knock-on effect issues. There are about 3,000 Cubans seeking to do wet-foot/dry-foot asylum in the US, and they are making their way up to the states now through Central America. They want to travel through Belize and then into Mexico en route to the US. The PM said he could only allow transit through Belize if Mexico guarantees they can enter Mexico. What do you think the chances are of that, I ask?
Posted By: Marty

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 12/31/15 11:54 AM

David Nanes Schnitzer’s bail is revoked

The bail for international fugitive David Nanes Schnitzer tonight stands revoked, over a month after he was granted bail.

Justice Herbert Lord this afternoon upheld an application to that effect made by the Office of the Director of Public Prosecution.

The Crown, led by prosecutor Kileru Awich presented an affidavit by PC Victor Salam stating that Banes did not comply with the conditions of his bail to appear for his adjournment date on November 23rd.

Justice Lord ruled that bail is revoked and forfeited to the state from the principal and the surety in the sum of 10 thousand dollars each with effect from today.

Click here to read the rest of the article on the Breaking Belize News website
Posted By: bywarren

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 12/31/15 12:12 PM

I am sure when he hears that he will come back to get it. crazy
Posted By: littlestarfish

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 01/06/16 07:51 PM

LOL!!!!
Posted By: Marty

Re: Stanford Ponzi scheme fugitive captured in San Pedro - 02/24/17 07:28 PM

Schnitzer was facilitated just like Kim Wong Hong, documents show

New documents that surfaced this week show that David Nanes Schnitzer – the accused multi-million dollar fraudster who vanished into thin air after being granted bail in November 2015 – was facilitated in order to attain Belizean nationality in the same fashion as was Kim Wong Hong, the Asian who received his citizenship while in a Taiwanese jail.

Schnitzer’s application, littered with inconsistencies, was approved in November of 2012, at the height of immigration fraud and scandal. There were spelling errors on his title Nanes, also spelt on the application as Banes. The year that Nanes purportedly became a permanent resident also changed from 2004 to 2006, even though he was never a legitimate permanent resident. There was also no photo accompanying his application – an observation which Immigration Director, Maria Marin later remarked in her report of this case as “neglect and disregard of procedures.”

The person who received, then processed the application was Ady Pacheco, despite that Nanes’ US passport had his name as Banes. And what Marin said was even more unusual was that Pacheco would not normally receive applications.

“The entire process was carried out by Ms. Pacheco even though it was not the norm for one officer to perform several steps in the application process,” Marin revealed.

Additionally, the Justice of the Peace who signed Nanes’ application, Gonzalo Heredia, brother of Tourism Minister Manuel Heredia, indicated that he knew Nanes for five years preceding the application, when Nanes was not in Belize for that long.

Coupled with the glaring errors and inconsistencies, Marin added, was the strange occurrence that the interview with Nanes occurred on the same day and also by the same person: Pacheco, Marin said. Normally, she explained, there would be a waiting period of a week or two. And when his application was approved, Nanes never showed up to utter his Oath of Allegiance or to sign for his nationality certificate.

Nanes’ application form indicates that Minister Edmond Castro recommended his application, which was then passed to the desk of former Immigration Director, Ruth Meighan.

Marin recommended that Pecheco and another senior public servant, former officer in charge of Nationality, Gordon Wade, be disciplined for the grave discrepancies to occur under their watch, but so far, both officers continue to work unperturbed.

It appears that there cannot be a criminal case against the parties responsible either because Chairman of the Senate Select Committee, Aldo Salazar explained this week that because the Nanes file was not dealt with in the audit which covered 2011 to 2013, it can’t be called up now for scrutiny.

“We can only examine that which are in the Report, which are produced in the Report for that period 2011 to 2013; In my view we can’t go beyond that. …If it’s something that is totally outside of the period or outside of the Report itself then I don’t believe we have any – in relation to that,” Salazar said.

Nanes Schnitzer somehow managed to get bail in Belize on a trail of offences adding up to immigration fraud, and was suppose to be tried and eventually released back to Mexican authorities who wanted him on fraud charges against famed investors. But he went missing for several months until one month ago when he was recaptured upon landing in Mexico onboard a plane from Cuba, using a different name and wearing a beard.

Pacheco has been summoned to attend the Senate hearing, but she has reportedly indicated she has a medical condition which she is dealing with at this time.

Nanes Schnitzer lived in San Pedro, Ambergris Caye for about three years until he was apprehended in November of 2015 with illegal documents.

The Reporter

© 2020 Ambergris Caye Belize Message Board