FROM THE - JOURNALS of Monte Friesner – Criminal & Intelligence Analyst and Consulaire for WANTED SA ~ Contributed & Written by Kenneth Rijock
PONZI SCHEMER'S IMPROPER DONATIONS PUT UNIVERSITY IN HOT WATER
Nevin Shapiro at UM sports event Remember convicted Ponzi schemer Nevin Shapiro,
currently serving a 20-year sentence for his $930m fraud ? Well,
whilst Shapiro was fleecing his victims, he was a major contributor to
the University of Miami's athletic programme.
The problem is, some of his
"contributions" were improper or illegal; they were made directly to the
players, and not to the university.
A gambler who reportedly lost $9m betting on games, Shapiro was
allegedly looking for inside information to help him place winning bets,
and he has alleged that the coaches supplied him with that knowledge.
The many illegal financial benefits that he bestowed upon the
university's football and basketball players, which ultimately came to
the attention of the body that regulates intercollegiate athletics, and
the university faces sanctions; it has already lost face, due to the
unflattering media coverage.
From Federal Prison, the Ponzi schemer is looking for any opportunity
to reduce his sentence, and he frankly does not care who he maligns or
damages, to get there.
Any nonprofit organization that accepts donations should always check
out its donors carefully. Should the donor have any major problems, he
may be inclined to supply information damaging to the nonprofit, if he
has any, to obtain an advantage in his criminal proceeding. In this
case, he had some to deliver; if you are banking a nonprofit, you may
want to obtain assurances that its compliance department checks out its
donors before accepting gifts.
READ MORE ON : www.wantedsa.com
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