Law360, New York (April 21, 2010, 4:33 PM ET) -- The former head of a purported wholesale grocery distribution business has been arrested on charges that he ran an $880 million Ponzi scheme that ripped off more than 60 investors.
The former owner of Capitol Investments USA Inc. — Nevin Shapiro, 41, of Miami Beach, Fla. — surrendered Wednesday to the FBI and Internal Revenue Service in New Jersey, according to the U.S. attorney's office for the District of New Jersey.
Shapiro faces one count of securities fraud and one count of money laundering in the...
Grocery Honcho Charged In $880M Ponzi Scheme
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