***72 former Miami Hurricanes to get subpoenaed***

[Coach Hank Crisp]

Click here for link

Remember that whole story about the University of Miami and prostitutes and cash gifts to players? Yeah, that was really awkward for a while when NFL reporters had to ask former members of the Hurricanes football team that were named in Yahoo Sports' report about their involvement with Nevin Shapiro, the booster who made the claims while sitting in jail for running a Ponzi scheme.

It's about to get way worse, though, because the 72 named players in the report will be subpoenaed by the bankruptcy trustee in the Shapiro case, Joel Tabas, and requested to pay back the money that they reportedly received from Shapiro at Miami.

"They can't ignore it — it's a subpoena issued by a bankruptcy court," Tabas' attorney Gary Freedman said, per the Miami Herald. "If they ignore it, we will seek an order from the court to compel them to respond. If they don't respond, they will face a contempt order."

[Marshal Dillon]

I hope the players have to pay money back. That sends a strong message to other players.



 

[SUPERCOACH]

I don't see how a bankruptcy court can force them to give the money back, unless he is claiming that it was a loan or something.

[Marshal Dillon]

I don't see how a bankruptcy court can force them to give the money back, unless he is claiming that it was a loan or something.

I think he's up to something else, mainly to spite Miami the U.   

[Coach Hank Crisp]

I don't see how a bankruptcy court can force them to give the money back, unless he is claiming that it was a loan or something.

Bankruptcy courts are run by Federal judges. They can do pretty much anything they want to. If they prove Shaprio gave Miami players money that he received from the Ponzi scheme. The judge may want them to pay it back, recouping lost money for the investors.

[SUPERCOACH]

I don't see how a bankruptcy court can force them to give the money back, unless he is claiming that it was a loan or something.

Bankruptcy courts are run by Federal judges. They can do pretty much anything they want to. If they prove Shaprio gave Miami players money that he received from the Ponzi scheme. The judge may want them to pay it back, recouping lost money for the investors.

I just don't see it, unless the players where in on the ponzi scheme.  Even if he gave the player's money, that is not a violation of law, just the NCAA rules.

What about all of the other things he used that money on?  Are they going to make the car dealer give back the money he used to buy a new car with?  Are they going to make the airlines refund the money he spent on airfare?  Are they going to make the gas station give back the money he spent on gasoline?  I don't think so.

I think MD is right, there is probably an ulterior/political motive here.  They can subpoena them and cause a lot of trouble, but ultimately I can't see where they could make them give the money back.

[Coach Hank Crisp]

I don't see how a bankruptcy court can force them to give the money back, unless he is claiming that it was a loan or something.

Bankruptcy courts are run by Federal judges. They can do pretty much anything they want to. If they prove Shaprio gave Miami players money that he received from the Ponzi scheme. The judge may want them to pay it back, recouping lost money for the investors.

I just don't see it, unless the players where in on the ponzi scheme.  Even if he gave the player's money, that is not a violation of law, just the NCAA rules.

What about all of the other things he used that money on?  Are they going to make the car dealer give back the money he used to buy a new car with?  Are they going to make the airlines refund the money he spent on airfare?  Are they going to make the gas station give back the money he spent on gasoline?  I don't think so.

I think MD is right, there is probably an ulterior/political motive here.  They can subpoena them and cause a lot of trouble, but ultimately I can't see where they could make them give the money back.

MD is correct. Politics in South Florida is big time money. I'm just guessing that it is not just Miami players subpoenaed, but anybody who had dealings with Shaprio. Judge just wants to trace the money and recoup any he finds. I know the judge on the Richard Scrushy and Healthsouth case went after all the money he could find to pay back the investors that lost retirement funds. Cars, jewelery, property and houses were all auctioned off and money was sent back to investors. That unfinsihed Healthsouth Digital hospital on 280 has been for sale since 2006. When it sales that money goes back to Healthsouth investors.

I read today where Shaprio's attorney stopped the state from moving Shaprio to a prison in Miami, because he feared for his life. He should for stealing millions.

[Coach Hank Crisp]

Click here for link

Hey SC this was what I was trying to say.

Report: Miami victims want gifts back.

Updated Aug 18, 2011 6:14 PM ET
Victims of the Ponzi scheme orchestrated by Nevin Shapiro -- the former Miami booster who claims he spent millions of dollars on improper benefits for athletes -- will attempt to recoup items of value allegedly given to players, The Miami Herald reported Thursday.

Attorneys for a federal bankruptcy trustee, seeking more than $100 million on behalf of Shapiro's swindled investors, are looking to obtain any items of real value Shapiro said he gave Miami student-athletes from 2002 to 2010.

The move came on the heels of a report released by Yahoo! Sports, which laid out in painstaking detail a litany of illicit benefits allegedly provided by Shapiro to Miami football and basketball players.

Gary Freedman, who represents the bankruptcy trustee, told The Herald he believes "many of these [gifts] fall within the definition of fraudulent transfers" and his firm has "an obligation to investigate and seek their recovery" from Miami players.

[Chechem]

Here, Crisp *, I owed you an e-cred from last night.

I'm just glad this morning that I'm not a Miami fan.  What a mess !!

[SUPERCOACH]

Click here for link

Hey SC this was what I was trying to say.

Report: Miami victims want gifts back.

Updated Aug 18, 2011 6:14 PM ET
Victims of the Ponzi scheme orchestrated by Nevin Shapiro -- the former Miami booster who claims he spent millions of dollars on improper benefits for athletes -- will attempt to recoup items of value allegedly given to players, The Miami Herald reported Thursday.

Attorneys for a federal bankruptcy trustee, seeking more than $100 million on behalf of Shapiro's swindled investors, are looking to obtain any items of real value Shapiro said he gave Miami student-athletes from 2002 to 2010.

The move came on the heels of a report released by Yahoo! Sports, which laid out in painstaking detail a litany of illicit benefits allegedly provided by Shapiro to Miami football and basketball players.

Gary Freedman, who represents the bankruptcy trustee, told The Herald he believes "many of these [gifts] fall within the definition of fraudulent transfers" and his firm has "an obligation to investigate and seek their recovery" from Miami players.

If that is true they may have some legal standing.

[ricky023]

Wow as I read what you guys have here, I feel scarey. They miami players and officials are in a big confusing mess. RTR!

[bama87]

Just wait until the UM counsel gets involved. The players should have some legal representation during this. The judge is looking for real value items. Tickets, cars, etc. I don't think the price of hookers would be included.
UM has a real stake in thus, aside from the NCAA issues. There are certain legal ramifications involved, especially if many of the players were minors at the time. Will judge hold parents to the illegal activities.
These are questions for a lawyer, do we have one on board?

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