ABSTRACT
Nevin Shapiro sought investors for Capitol Investments to help grow the business. According to the official complaint filed by the US Securities and Exchange Commission (SEC) in April 2010: promised to refund prospective investors' principal within thirty days and pay 10" to 26" annual returns on their investment. In 2001, Shapiro paid $12,000 to become a "booster" of the University of Miami athletics program. According to the litigation release published by the SEC in August 2010, from January 2005 through November 2009 Shapiro operated a Ponzi scheme in which he used new investor funds to pay principal and interest to earlier investors. Future examinations of intercollegiate athletics should focus on practical and realistic policy proposals with respect to National Collegiate Athletic Association (NCAA) governance and enforcement as well as academic standards for student-athletes and economic support of student-athletes.
