Comment on Biden grants clemency to infamous UM booster and Ponzi schemer Nevin Shapiro

Biden grants clemency to infamous UM booster and Ponzi schemer Nevin Shapiro

Nevin Shapiro, a convicted Ponzi schemer whose entanglement with the University of Miami blemished the institution’s reputation and dragged its football team into scandal and NCAA sanctions, was granted clemency by President Joe Biden this week as part of a sweeping list of commutations. Shapiro, convicted in 2010 on federal charges of securities fraud and money laundering in New Jersey after overseeing a $930 million Ponzi scheme, was sentenced in 2011 to 20 years in prison.

 

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