The University of Miami athletes who reportedly scored large sums of cash and big gifts from convicted Ponzi schemer and UM booster Nevin Shapiro may wind up facing bankruptcy clawback suits seeking repayment.
That is, if they don't voluntarily come forward to repay the bankruptcy trustee overseeing Shapiro's now-defunct investment company, Capitol Investments USA, which is facing more than $100 million in claims from bilked investors.
Under bankruptcy law, the trustee can seek to collect payments, cash and gifts such as jewelry and cars that Shapiro says he lavished on dozens of UM players in recent years. Yahoo! Sports published a detailed investigative expose Tuesday in which Shapiro, after 100 hours of jailhouse interviews over the course of months, alleged he spent tens of thousands of dollars on UM players, in violation of NCAA rules.
Read the rest of the article at the Chicago Tribune
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