Shapiro Situation

Both the Miami Herald and the Palm Beach Post reported yesterday , Joel Tabas has recovered about $19 million, out of the almost one billion dollar ponzi scheme.  Joel Tabas who is the trustee for the bankruptcy is turning his attention toward Shapiro’s lawyers. Who were paid with funds from Shapiro’s company, Capitol Investments USA.  Shapiro should not have used company money for his legal defense.  Tabas is seeking a little under a million dollars.

When this story broke in August, I was trying to read through the TMZ reporting that ESPN, SI, and the rest of the sports media was spitting out.  Shapiro said he did it because none of the Miami player came to his defense.  Maybe that is a part of it, but I felt there was more to it then petty revenge.  Shapiro and his lawyers were shopping this story for over a year.  It was confirmed that Miami Herald and ESPN turned down the story.  Even Yahoo has been removing parts and has retracted parts of the original story.

Even the legal defense team was getting on Miami sports radio, saying the coached knew, everyone knew.  Shapiro is a liar, and that is well documented.  Part of his plea agreement was to pay back the money to the victims.  I think he dragged the Miami players into this are to pay off part his debt.  I am not going to deny that he did give some players money.  The University suspended several players due to illegal payments to player before and after they signed with Miami. It will be interesting to see if the lawyers change the story or walk away from the story if they have to play the money.  Lawyers do not like it when they do not get paid for their services.

As time goes on, I feel most of the allegations will not be true, or over fabricated.

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