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Renegade Miami football booster spells out illicit benefits to players
Nevin Shapiro and a second source said this photo of the booster and Kellen Winslow Jr. was taken in Shapiro’s VIP section of Opium Garden nightclub in 2003.
KEARNEY, N.J. – A University of Miami booster, incarcerated for his role in a $930 million Ponzi scheme, has told Yahoo! Sports he provided thousands of impermissible benefits to at least 72 athletes from 2002 through 2010.
In 100 hours of jailhouse interviews during Yahoo! Sports’ 11-month investigation, Hurricanes booster Nevin Shapiro described a sustained, eight-year run of rampant NCAA rule-breaking, some of it with the knowledge or direct participation of at least seven coaches from the Miami football and basketball programs. At a cost that Shapiro estimates in the millions of dollars, he said his benefits to athletes included but were not limited to cash, prostitutes, entertainment in his multimillion-dollar homes and yacht, paid trips to high-end restaurants and nightclubs, jewelry, bounties for on-field play (including bounties for injuring opposing players), travel and, on one occasion, an abortion.
http://www.fbi.gov/newark/press-releases/2010/nk071410.htm
Excerpt:
CEO of Capitol Investments USA Inc. Indicted for $880 Million Ponzi Scheme Based on Phony Grocery Business
| U.S. Attorney’s Office July 14, 2010 |
NEWARK, NJ—A federal grand jury indicted Nevin Shapiro, former owner and chief executive officer of Capitol Investments USA Inc. (Capitol), today for allegedly overseeing a $880 million Ponzi scheme linked to his purported wholesale grocery distribution business, U.S. Attorney Paul J. Fishman announced.
The indictment charges Shapiro, 41, of Miami Beach, Fla., with using Capitol to solicit hundreds of millions of dollars from individuals who believed they were investing in Shapiro’s grocery distribution business. The indictment alleges that Capitol had no active wholesale grocery business during the relevant time period, and that Shapiro used new investor funds to make principal and interest payments to existing investors, as well as to fund his own lavish lifestyle.
The indictment charges Shapiro, 41, of Miami Beach, Fla., with using Capitol to solicit hundreds of millions of dollars from individuals who believed they were investing in Shapiro’s grocery distribution business. The indictment alleges that Capitol had no active wholesale grocery business during the relevant time period, and that Shapiro used new investor funds to make principal and interest payments to existing investors, as well as to fund his own lavish lifestyle.
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