Stanford Ponzi scheme fugitive captured in Belize


Allen Stanford is serving a 110-year prison term but the president of Stanford Group Mexico, David Nanes Schnitzer (inset), has only now been apprehended.


BELMOPAN, Belize, Wednesday November 4, 2015 – One of the key players in the Ponzi scheme executed by financier Allen Stanford has been apprehended in Belize.

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.

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