Nanes was also the president of Stanford Fondos SA de CV, and a director at Stanford Bank Panama, and SIH Panama. He is wanted in Mexico, where he has been charged with breach of fiduciary duty.
Though not known to be under indictment in the United States, the Court-appointed Stanford receiver, Ralph Janvey, has a civil suit pending against him*, alleging that he, and his wife, have control over as much as $16m in Stanford Group assets. Nanes defrauded wealthy investors, primarily in Mexico, Panama & Venezuela. He operated a corporation known as Wealth Management Services, Ltd., against which the Receiver has a $12m judgment, obtained on October 1, 2014, in US District Court in Texas.
There is no information available regarding the whereabouts of Nanes' spouse, Hasibe Elizabeth Ancona-Mizrahi.
* Ralph Janvey, in his capacity as Court-Appointed Receiver of Stanford Group etc. vs. David Nanes, Case No.: 15-cv-03171-N-BG (ND TX).