On Dec. 12, President Biden commuted the sentences of nearly 1,500 individuals who have been serving time under house arrest under a pandemic-era policy. Among those who will be walking free today is Nevin Shapiro, the former University of Miami booster convicted in 2010 for his orchestration of a nearly $400 million Ponzi scheme.
Shapiro began serving a 20-year prison sentence for securities fraud and money laundering in 2011. According to prosecutors in the case, Shapiro claimed he bought wholesale groceries and sold them to more expensive markets as a way of attracting investors to his firm. The FBI said he reportedly went on to use that investor money on luxurious experiences like Miami Heat floor seats, diamond-studded handcuffs for an unnamed athlete, and an expensive yacht he allegedly rented to NBA players like Shaquille O'Neal and Dwyane Wade.
He was transferred to house arrest in June 2020 under the CARES Act, which in part allowed for home confinement of some prisoners in correctional facilities.
"As the President has said, the United States is a nation of second chances. The President recognizes how the clemency power can advance equal justice under law and remedy harms caused by practices of the past," a statement from the White House regarding the commutations read. "The nearly 1,500 individuals who received commutations today have been serving their sentences at home for at least one year under the COVID-era CARES Act. These Americans have been reunited with their families and shown their commitment to rehabilitation by securing employment and advancing their education."
After first going to prison, Shapiro began cooperating with authorities in their investigation into the University of Miami for purportedly going along with his violations of NCAA rules during his eight years as a booster for UM athletics. Shapiro allegedly provided these college football players gifts including cash, goods, and prostitutes, according to ESPN. However, the university bore the brunt of any punishment.
"I spent my first two years of home confinement just touching the ground and getting reprogrammed into society after over 10 years of being away," he remarked to Forbes of his sentence last year. "To be honest, I found that to be way more difficult than I had ever imagined, but now I’m really focused on my next moves. That includes public speaking with regard to the experience I have lived."
"I have contrition and humility and truly feel blessed to see the world open up again for me.”
