president Joe Biden commuted two-decade prison sentence for University of Miami booster and Ponzi scheme mastermind Nevin Shapiro … who has previously admitted to bilking players of expensive gifts.
The 55-year-old convicted felon’s pardon was one of 1,499 made by Biden on Thursday…a single-day record for POTUS.
Shapiro pleaded guilty to 8 felonies and was sentenced to 20 years in federal prison for his role in a $900+ million Ponzi scheme that he ran from his Capital Investments office in Miami.
After entering prison in 2013, Shapiro was released in April 2020 during the COVID-19 pandemic and placed under house arrest, where he remained until Biden’s decision.
Nevin was not criminally charged in the UM scandal, but the NCAA did impose sanctions.
President Biden did not specifically address the decision to list Shapiro, but the White House addressed the news as a whole.
“As the president has said, the United States is a country of second chances,” the statement said.
“Nearly 1,500 individuals who received commutation today are serving at least one year at home under the CARES Act in the COVID era. These Americans have been reunited with their families and have demonstrated their commitment to recovery by securing employment and advancing their education. … These individuals are parents, veterans, health care professionals, teachers, advocates, and involved members of the justice system to inspire and encourage others.”
Of course, substitution is not the same as forgiveness. Shapiro won’t be forgiven for the crime… but his sentence has now been significantly reduced.
According to the news, Shapiro did not repay his victims.
