NBA players Shaquille O'Neal, Dwyane Wade, and Kevin Garnett and pledged $150,000 to the University of Miami to have his name placed on the student lounge. The scheme fell apart in November 2009 during the late-2000s recession when Chicago real estate investor Sherwin Jarol sued to force him into involuntary bankruptcy after Shapiro had stopped making payments to his investors. More than 60 investors (largely from Naples, Indianapolis, and Chicago), including Barry Alvarez, filed claims (Alvarez had $600,000 in the scheme). Federal criminal charges On April 21, 2010, he was charged in New Jersey with securities fraud and money laundering. Federal plea and sentencing On September 15, 2010, he pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark, New Jersey in U.S. v. Shapiro, 10-cr-00471 to one count of securities fraud and one count of money laundering. On June 7, 2011, he was sentenced to 20 years in federal prison and ordered to make $82,657,362.29 in restitution. Home transfer Shapiro was transferred from federal prison to home confinement on June 11, 2020, where he will continue to serve out the remainder of his 20-year sentence under monitoring by the Federal Bureau of Prisons (BOP). The transfer comes on the heels of recent federal prison directives to move some at-risk inmates to home confinement in the face of COVID-19 outbreaks. The eligibility of Shapiro, who is 51, was aided by having served over 50 percent of his sentence, while also demonstrating hypertrophic cardiomyopathy and hypertension, both of which put him at a higher risk of life-threatening complication if he were to contract coronavirus. Shapiro was transferred to the home of a family member. He will be monitored electronically by the BOP and subject to a range of BOP guidelines, which include a ban on the consumption of alcohol, random drug testing, and a monitored walking radius near the residence and other criteria. He will also be required to wear an ankle monitor at all times. He will be eligible to hold a job, although any work would require approval through the BOP and his earnings will be garnished to repay remaining restitution to his victims. The civil case in Miami is Securities and Exchange Commission v. Shapiro, 10-cv-21281. University of Miami scandal In August 2010, Shapiro told the Miami Herald that he was writing a book The Real U: 2001 to 2010 Inside the Eye of the Hurricane in