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Biden commutes sentence for ex-UM booster and $930M Ponzi schemer Nevin Shapiro

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President Joe Biden has commuted the prison sentence of former University of Miami booster and $930 million Ponzi schemer Nevin Shapiro.
President Joe Biden has commuted the sentence of Nevin Shapiro, a former University of Miami booster convicted of orchestrating a $930 million Ponzi scheme. Shapiro, who was sentenced to 20 years in prison in 2011, had his sentence reduced to time served, which amounted to 12 years, along with three years of supervised release. This decision was part of a broader clemency initiative announced on April 25, 2024, aimed at addressing non-violent drug offenses and promoting rehabilitation. Shapiro's case gained notoriety not only for the financial fraud but also for his lavish spending on University of Miami athletes, leading to NCAA violations. Despite his crimes, Shapiro's commutation reflects a policy shift towards recognizing rehabilitation and the potential for individuals to contribute positively to society post-incarceration.

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