UM booster accused of $900M food Ponzi scheme

Source: miamiherald.com Posted By: tesee11 5357 days ago

Though he claimed to be living the life while flipping surplus groceries and supporting a university, Nevin Shapiro faces charges he ran a $900 million Ponzi scheme.

A leading University of Miami athletics patron faces federal charges of running a $900 million Ponzi scheme that funded a lavish lifestyle of private skyboxes, diamond-studded gifts to pro athletes and a reputation as a deep-pocketed booster.

Nevin Shapiro, 41, was in federal custody Wednesday on charges of money laundering and....

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