Man Gets 20 Years For $930M Ponzi Grocery Scheme

Law360, New York (June 7, 2011, 10:04 PM EDT) -- A man who used a fake grocery wholesale distributing business to defraud investors of $930 million was sentenced Tuesday in New Jersey federal court to 20 years in prison and ordered to pay $82.6 million in restitution to his victims.

Nevin Shapiro, 41, the former CEO of Capitol Investments USA Inc., pled guilty in September to one count of securities fraud and one count of money laundering. From January 2005 through November 2009, Shapiro convinced dozens of investors in New Jersey and throughout the U.S. to...
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Case Information

Case Title

Magistrate judge case number: 

Case Number



New Jersey

Nature of Suit

Date Filed

July 14, 2010


Government Agencies

UK Financial Services

UK Financial Services

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