Convicted Ponzi schemer and ex-Miami Hurricanes booster Nevin Shapiro transferred to home confinement

In this Sept. 29, 2012, file photo, University of Miami's mascot Sebastian the Ibis leads players onto the field before a game against North Carolina State in Miami. Miami's three-year NCAA probation largely stemming from the actions of rogue and former booster Nevin Shapiro was completed on Oct. 21, 2016. (AP Photo/J Pat Carter)
In this Sept. 29, 2012, file photo, University of Miami's mascot Sebastian the Ibis leads players onto the field before a game against North Carolina State in Miami. Miami's three-year NCAA probation largely stemming from the actions of rogue and former booster Nevin Shapiro was completed on Oct. 21, 2016. (AP Photo/J Pat Carter)

Convicted Ponzi schemer and former Miami Hurricanes booster Nevin Shapiro was transferred from federal prison into home confinement on Thursday, where he will continue to serve out the remainder of his 20-year sentence under monitoring by the Bureau of Prisons. The transfer comes on the heels of recent federal prison directives to move some at-risk inmates into home confinement in the face of COVID-19 outbreaks.

Shapiro issued a statement to Yahoo Sports following his transfer on Thursday, expressing relief at moving into monitored confinement.

“This has been a life-altering experience,” Shapiro said. “I have never stopped thinking about my victims and I’m looking forward to spending time with my parents who I need to care for. I am looking forward to moving forward with my life.”


Messages seeking comment from the Bureau of Prisons were not returned.

Shapiro earned infamy nearly a decade ago, when he was convicted on one count of securities fraud and one count of money laundering, and ordered to pay nearly $83 million in restitution for his part in a Ponzi scheme tied to his former business, Capitol Investments. He later became the focal point of an 11-month Yahoo Sports investigation surrounding his time as a University of Miami athletics booster. Shapiro’s activities resulted in a multiyear NCAA investigation and 102-page finding that the school exhibited a lack of institutional control in multiple sports during nearly a decade of Shapiro’s involvement with athletics.

Nevin Shapiro said this photo was taken during a basketball fundraiser in 2008, in which the booster donated $50,000 to the program. On the right is University of Miami president Donna Shalala, holding Shapiro’s donation check. (Yahoo Sports)
Nevin Shapiro said this photo was taken during a basketball fundraiser in 2008, in which the booster donated $50,000 to the program. On the right is University of Miami president Donna Shalala, holding Shapiro’s donation check. (Yahoo Sports)

In the fallout of that probe, the NCAA’s own investigative practices also came under fire, leading to a sweeping internal review and an eventual restructuring of the association’s enforcement arm.

Following his conviction in 2010, Shapiro had been slated for release from prison in June of 2027. His transfer into home confinement came in the wake of recent prison-related legislation driven by President Donald Trump, including the CARES Act and First Step Act. The move was also spurred by Attorney General William Barr’s recent directive to have the Bureau of Prisons review housing alternatives for inmates with COVID-19 risk factors. The eligibility of Shapiro, who is 51, was aided by having served over 50 percent of his sentence, while also demonstrating hypertrophic cardiomyopathy and hypertension, both of which put him at a higher risk of life-threatening complication if he were to contract coronavirus.

Shapiro was transferred into the home of a family member Thursday. He will be monitored electronically by the Bureau of Prisons and subject to a range of BOP guidelines. They include a ban on the consumption of alcohol, random drug testing, a monitored walking radius near the residence and other 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 BOP and his earnings will be garnished to repay remaining restitution to his victims.


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