President Biden Commutes Sentence of Convicted Ponzi Schemer Nevin Shapiro

Shapiro, a former University of Miami booster tied to a $930 million fraud and NCAA violations, was among nearly 1,500 granted clemency for non-violent offenses.

• Nevin Shapiro, convicted in 2010 of running a $930 million Ponzi scheme, had been serving his sentence under home confinement since 2020 due to COVID-19 policies.
• President Biden's clemency decision is part of a broader move to commute sentences for individuals convicted of non-violent crimes under outdated laws.
• Shapiro, who also sparked NCAA sanctions against the University of Miami for providing improper benefits to athletes, was not criminally charged for his involvement in the sports scandal.
• The White House highlighted that clemency recipients, including Shapiro, demonstrated rehabilitation and reintegration into their communities while on home confinement.
• Shapiro, now 55, has yet to repay the $83 million in restitution ordered by the court and continues to assist in recovering funds tied to his fraudulent scheme.

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