Nevin Shapiro
| Nevin Shapiro | |
|---|---|
| Born |
April 13, 1969 Brooklyn, New York |
| Known for | Convicted white collar criminal of a ponzi scheme |
Nevin Karey Shapiro (born April 13, 1969) is a convicted felon who is currently imprisoned for orchestrating a $930 million Ponzi scheme. According to interviews, he engaged in rampant violations of NCAA rules over eight years as a booster for University of Miami athletes. Shapiro allegedly provided football players cash, goods, prostitutes, assorted favors, and purchased a yacht on which sex parties with prostitutes were held.
Shapiro was born in Brooklyn, New York and moved with his family to Miami Beach, Florida at an early age. He graduated in 1986 from Miami Beach Senior High School in the same class as film director Brett Ratner. Shapiro, who is 5 feet, 5 inches tall, was a member of the school's basketball and wrestling teams. A year after he graduated his mother married Richard Armand Adam, who operated RAA International, a real estate loan company. Adam moved the family to Lighthouse Point and bought two yachts. In 1997 Adam was charged in Canada with business fraud, and was accused of stealing $6 million by collecting fees on loans that never materialized. Adam eventually served six years in Canadian prisons.
Shapiro subsequently started Capitol Investments USA, which he claimed bought wholesale groceries and shipped them to more expensive markets (although he subsequently said that he never actually sold the groceries). Shapiro's Ponzi scheme was based on attracting investors to Capitol Investments.
He promised investors they would make 10 to 26 percent commissions every month.
In 2003, his business grew very quickly through connections with Sherwin Jarol in Chicago, Craig Currie in New Jersey, and Sydney "Jack" Williams who had real estate in Naples, Florida, and Indianapolis.
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