Biden grants clemency to Ponzi schemer Nevin Shapiro linked to University of Miami scandal

President Joe Biden granted clemency to Nevin Shapiro, a convicted Ponzi schemer linked to a scandal at the University of Miami. Shapiro was serving a 20-year sentence for securities fraud and money laundering but was released to home confinement in 2020. Shapiro's sentence was set to end in June 2026. The White House stated that Biden's clemency actions included nearly 1,500 individuals who successfully reintegrated into their communities after being placed on home confinement during the COVID-19 pandemic. Since his release, Shapiro has been caring for his ailing father in Boca Raton. He has health issues, including hypertension and cardiomyopathy, and has been hospitalized multiple times since 2020.