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fraudulently representing that
Capitol's wholesale grocery business was generating tens of millions of dollars in annual sales; personal and business tax returns for Shapiro and Capitol also fraudulently reflecting those sales; and numerous invoices fraudulently reflecting transactions between Capitol and other companies in the wholesale grocery business."
358:-mandated institutional oversight at the university that apparently allowed his illegal and unethical behavior to continue unimpeded for years. To date, 72 University of Miami football players are alleged by Shapiro to have received impermissible benefits from him between 2002 and 2010, including Wilfork,
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rules affecting more than 100 players. "Once the players turned pro, they turned their back on me. It made me feel like a used friend," he said. Shapiro was reported to have spent $ 2 million from 2002 to 2010 boosting
University of Miami sports, primarily football, but also included contact with the
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Shapiro was transferred to the home of a family member. He will be monitored electronically by the Bureau of
Prisons and subject to a range of the bureau's guidelines, which included a ban on the consumption of alcohol, random drug testing, and a monitored walking radius near the residence, and other
412:
for
Shapiro's bankruptcy, and ask a specific list of questions related to the university's scandal. Shapiro's attorney used her subpoena power in the bankruptcy case to question two witnesses who were crucial to the NCAA's case. The NCAA had no subpoena power, and neither witness had any obligation
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professional basketball team; approximately $ 26,000 monthly for mortgage payments on his residence in Miami Beach, which was recently appraised at approximately $ 5.3 million; approximately $ 7,250 monthly for payments on a $ 1.5 million
Riviera yacht; approximately $ 4,700 monthly for the lease of
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coach, and a two-year show-cause order on a total of three former assistant football and basketball coaches. Considering such a long investigation yielded very little incriminating evidence, it was widely viewed that the NCAA investigation and the media attention to the case did not match the
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Special Agent
Gregory Yankow in a Federal Criminal Complaint dated April 20, 2010 (Case No. 10-8082), Shapiro "directed others to create and show to the investors documents fraudulently touting Capitol's profitability. Those documents included: financial statements; profit and loss figures
399:
On
October 22, 2013, after a two-and-a-half year of investigation, the NCAA announced that the University of Miami football team would be docked three scholarships in each of the next three seasons, a three-year probation, recruiting restrictions, a five-game suspension for the
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criteria. He will also be required to wear an ankle monitor at all times. He will be eligible to hold a job, although any work would require approval through the bureau and his earnings will be garnished to repay remaining restitution to his victims.
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when
Chicago real estate investor Sherwin Jarol sued to force him into involuntary bankruptcy after Shapiro had stopped making payments to his investors. More than 60 investors, largely from Naples, Indianapolis, and Chicago, including
534:
249:, 10-cr-00471, to one count of securities fraud and one count of money laundering. On June 7, 2011, he was sentenced to 20 years in federal prison and ordered to make $ 82,657,362.29 in restitution.
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Shapiro started
Capitol Investments USA, which he claimed bought wholesale groceries and shipped them to more expensive markets, although he said that he never actually sold the groceries. Shapiro's
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Before the NCAA penalties were announced, it was revealed that NCAA enforcement staff paid
Shapiro's lawyer $ 25,000 to call in University of Miami personnel during an unassociated legal
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Shapiro was transferred from federal prison to home confinement on June 11, 2020, where he will continue to serve out the remainder of his 20-year sentence under monitoring by the
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According to the criminal complaint, Shapiro incurred "millions of dollars in debts resulting from illegal gambling on sporting events; more than $ 400,000 for floor seats to the
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to talk to the association. The backlash from the revelations about the NCAA's activities, coupled with the university's unprecedented self-imposed sanctions, helped the
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imposed significant penalties on itself, including the suspension of eight football players, and removed itself from post-season bowl contention for one year.
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in 2008 as he donated $ 50,000 to the basketball program as well as $ 3 million in other donations to undisclosed recipients, and with Vince Wilfork in 2002.
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261:(BOP). The transfer comes on the heels of recent federal prison directives to move some at-risk inmates to home confinement in the face of
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and Joe Kolchinsky in the VIP section of the Opium Garden Nightclub in 2005, with Haith, Joe Kolchinsky and University of Miami President
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was based on attracting investors to Capitol Investments. He promised investors they would make 10 to 26 percent commissions every month.
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automobile;" and an undisclosed amount "for a pair of diamond-studded handcuffs, which he gifted to a prominent professional athlete."
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783:
535:"CEO of Capitol Investments USA, Inc. Sentenced to 20 Years in Prison for $ 930 Million Ponzi Scheme Based on Phony Grocery Business"
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outbreaks. Shapiro, who was 51 at the time, was aided by having served over 50 percent of his sentence, while also demonstrating
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The FBI reported that he had diverted $ 35 million for his personal use from 2005 to 2009. Shapiro allegedly rented his yacht to
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sports writer Charles Robinson conducted over 100 hours, Shapiro made good on his promise for revelations, exposing a lack of
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In 2002, Shapiro paid $ 1.5 million for a 30 percent stake in a sports management company called Axcess Sports, founded by
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70:(born April 13, 1969) is a convicted felon who received a 20-year prison sentence for orchestrating a $ 930 million
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588:"Convicted Ponzi schemer and ex-Miami Hurricanes booster Nevin Shapiro transferred to home confinement"
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athletes. Shapiro allegedly provided football players cash, goods, prostitutes, and assorted favors.
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631:"University of Miami lacked institutional control resulting in a decade of violations"
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607:"Miami Booster Claims UFL Commissioner Provided Benefits To Student-Athletes"
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In 2003, his business grew quickly through connections with Sherwin Jarol in
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564:"Wholesale Grocery Owner Gets 20-Year Sentence in $ 930 Million Ponzi Scam"
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45:
441:"Renegade Miami football booster spells out illicit benefits to players"
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110:. Shapiro, who is 5 feet, 5 inches tall, was a member of the school's
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On September 15, 2010, he pleaded guilty before U.S. District Judge
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466:"Lawyer: Nevin Shapiro is helping NCAA's investigation of Miami"
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relatively minor infractions that were proven to be committed.
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99:
696:"DOJ: Florida Man Given 20 Years In Prison For Ponzi Scheme"
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The Real U: 2001 to 2010 Inside the Eye of the Hurricane
146:, and Sydney "Jack" Williams, who had real estate in
74:. According to interviews, he allegedly engaged in
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28:
21:
350:On August 16, 2011, in a jailhouse interview with
200:The scheme fell apart in November 2009 during the
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381:Photos in the Yahoo article showed Shapiro with
197:to have his name placed on the student lounge.
764:American people convicted of money laundering
8:
557:
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754:American businesspeople convicted of crimes
106:at an early age. He graduated in 1986 from
749:2011 University of Miami athletics scandal
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432:
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305:2011 University of Miami athletics scandal
18:
679:Andrea Adelson, ESPN.com October 22, 2013
417:escape additional harsh NCAA penalties.
209:, had invested $ 600,000 in the scheme.
82:rules over eight years as a booster for
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291:U.S. Securities and Exchange Commission
789:People from Lighthouse Point, Florida
334:in which he promised to tell how the
217:On April 21, 2010, he was charged in
7:
392:In response to the allegations, the
102:family and moved with his family to
284:Shapiro also faces a civil case in
14:
656:"Source:Shapiro lawyer got money"
504:"Nevin Shapiro: Miami's Caligula"
402:Miami Hurricanes men's basketball
324:In August 2010, Shapiro told the
605:Sports Agent Blog (2011-08-16).
439:Robinson, Charles (2011-08-16).
739:21st-century American criminals
539:Federal Bureau of Investigation
759:American confidence tricksters
562:Voreacos, David (2011-06-08).
108:Miami Beach Senior High School
1:
193:and pledged $ 150,000 to the
313:. The agency signed several
127:Federal criminal allegations
464:Smith, Erick (2011-08-15).
330:that he was writing a book
299:University of Miami scandal
267:hypertrophic cardiomyopathy
233:Federal plea and sentencing
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744:21st-century American Jews
734:20th-century American Jews
694:Kell, John (7 June 2011),
502:Tim Elfrink (2010-12-16).
302:
794:Pyramid and Ponzi schemes
784:Miami Hurricanes football
315:Miami Hurricanes football
259:Federal Bureau of Prisons
213:Federal criminal charges
98:on April 13, 1969, to a
90:Early life and education
769:Criminals from Brooklyn
343:basketball team under
59:white collar criminal
48:, New York City, U.S.
104:Miami Beach, Florida
94:Shapiro was born in
700:Dow Jones Newswires
394:University of Miami
336:University of Miami
317:players, including
195:University of Miami
84:University of Miami
68:Nevin Karey Shapiro
774:Financial scandals
383:Kellen Winslow Jr.
243:Newark, New Jersey
142:, Craig Currie in
76:rampant violations
16:American fraudster
239:Susan D. Wigenton
202:2008-09 recession
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61:of a Ponzi scheme
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223:securities fraud
183:Shaquille O'Neal
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594:. 12 June 2020.
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247:U.S. v. Shapiro
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148:Naples, Florida
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372:Willis McGahee
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54:Known for
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39:April 13, 1969
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41:(age 55)
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23:Nevin Shapiro
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703:, retrieved
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664:. Retrieved
662:. 2013-02-06
659:
650:
639:. Retrieved
637:. 2013-10-22
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614:. Retrieved
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571:. Retrieved
543:. Retrieved
541:. 2011-06-07
511:. Retrieved
473:. Retrieved
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448:. Retrieved
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368:Devin Hester
364:Antrel Rolle
349:
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327:Miami Herald
325:
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271:hypertension
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152:Indianapolis
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133:Ponzi scheme
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122:Ponzi scheme
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72:Ponzi scheme
67:
66:
724:1969 births
376:Sean Taylor
345:Frank Haith
275:coronavirus
187:Dwyane Wade
718:Categories
666:2015-01-10
641:2015-01-10
616:2011-08-19
573:2011-08-18
545:2011-08-19
513:2011-08-17
475:2011-08-17
450:2011-08-17
421:References
410:deposition
360:Jon Beason
293:v. Shapiro
219:New Jersey
167:Miami Heat
144:New Jersey
112:basketball
57:Convicted
35:1969-04-13
705:17 August
568:Bloomberg
470:USA Today
116:wrestling
660:ESPN.com
263:COVID-19
181:players
96:Brooklyn
46:Brooklyn
140:Chicago
118:teams.
352:Yahoo!
189:, and
100:Jewish
286:Miami
221:with
707:2011
635:NCAA
356:NCAA
340:NCAA
269:and
225:and
150:and
114:and
80:NCAA
29:Born
321:.
245:in
241:in
179:NBA
159:FBI
78:of
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