Sanchez resided in Miami, Florida in 1983. He was last seen in Nassau in the Bahamas on December 9, 1983. He was accompanied by Gary Weaver at the time. Both men vanished and have never been heard from again.

Sanchez had told his family he was importing television sets and other appliances to Colombia through the Bahamas in 1983, but he apparently was actually smuggling illegal drugs. He left Florida for the Bahamas on December 4 and last spoke to his family on December 9, the day of his disappearance. Shortly after his family began searching for him, a family friend told them that if they continued the search, Sanchez's young daughter and other family members would be killed. His family took the threat seriously and did not renew their efforts to find Sanchez until 2005.

Authorities believe Weaver and Sanchez were murdered on Andros Island in the Bahamas, possibly by being pushed out of a plane. No one has been charged in their disappearances, however; their cases remain unsolved. Both Bahamian and Floridian authorities are investigating.