Blog Entry

Barry Alvarez, son lost $1M in Shapiro scheme

Posted on: August 18, 2011 10:45 am
Edited on: August 18, 2011 10:51 am
 
Posted by Chip Patterson

As the dust begins to settle from the initial shock of the Yahoo! investigative report on Miami football, some of the details regarding Nevin Shapiro are beginning to rise to the surface. Among them, who had this well-connected booster involved in his wholesale grocery Ponzi scheme that landed him 20 years behind bars?

One of them is Wisconsin athletic director Barry Alvarez.

Alvarez and his wife, Cynthia, reportedly lost $600,000 by investing in Shapiro's company. Their son, Chad, also claimed he lost $400,000 in the scheme. The Herald reports rumors that the Wisconsin AD may have been introduced to Shapiro by Miami president Donna Shalala, former president at UW.

That rumor was squashed by a Miami attorney who represents the bankruptcy trustee on the case. Court papers instead list one of Shapiro's investors in Naples as the connect between the booster and the Alvarez family.  The athletic director released a statement on Thursday.

“Like dozens of others, I was introduced by a friend several years ago to an investment opportunity with Capital Investments USA, Inc., which was the company being run by Mr. Shapiro," Alvarez said.  "I was introduced to Mr. Shapiro on one occasion over the years, but had no contact with him outside that one introduction. Eventually I became aware that the investment I had made was in jeopardy due to Mr. Shapiro’s legal troubles. At that point, I retained legal counsel in an effort to recoup the money I had invested. That process is still ongoing.”

As Shapiro's status rises with the NCAA investigation, chances are more well-known names will be attached to his $930 million scheme. As someone who spent a lot of money to get to college football's inside circle, he likely had numerous opportunities to run his con on powerful people with money to spend.
Comments

Since: Oct 23, 2006
Posted on: August 19, 2011 11:57 am
 

Barry Alvarez, son lost $1M in Shapiro scheme

Alvarez learned cheating under the master, Lou Holtz, while at notre dame. Nothing he does or has done should be surprising.
Typical of a scUM fan.  Did you bother to read the article or did you simply vomit words out.  Alvarez didn't cheat at anything.  He got cheated.  As far as I am aware, Alvarez has never been accused of cheating before.  Wish I could say the same about the Sweater Vest and Rich Rod.



Since: Dec 4, 2007
Posted on: August 19, 2011 7:13 am
 

Barry Alvarez, son lost $1M in Shapiro scheme

I'm sure he was introduced to Shapiro by her but has too much class to actually mention her name.  You are 100% in your assessment, apparently she paid zero attention to what was going on at Miami.  Alvarez must wake up thankful every day that he stayed put in Madison.



Since: Dec 3, 2009
Posted on: August 18, 2011 11:16 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

She's a moron and should resign in disgrace.

Thank you starblazer, most of the UM fanbase agree with you.  One good thing about the allegations is that it could bring about her firing.




Since: Sep 2, 2006
Posted on: August 18, 2011 9:48 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

That was supposed to say "Whining" earlier...but anyways.....



Since: Sep 2, 2006
Posted on: August 18, 2011 9:41 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

...sorry, and as far as Barry & his boy losing 1 million with this duche-bag....who cares....most of us wish we had a million to blow...

LOL...I'm done now...be good folks.



Since: Sep 2, 2006
Posted on: August 18, 2011 9:28 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

Sadly, we are going to hell in a nice gift wrapped hand-basket.....this crap is ridiculous & and the pawns that fall for it are just as bad. Everyone is trying to get a "leg up" anymore and willing to do anything to get it done. It's always about the money but even worse....it's the F'd-up people that even involve themselves in this game. Why put up with this kind a desperation for a fast easy paycheck?
There is no winning...only "wining" when everything goes south. Unfortunately, society has become numb to such occurences and could truly care less...as long as they get theirs. It's a world-wide disease and does nothing but produce prostitution, murder, war, etc....it's just old news. How bout this....

1. Go get a "jobby-job" and work for what you are worth.
2. Get a good education and make your own path to follow....
3. Don't listen to a waste of life such as Nevin Shapiro who did nothing but do a very nice job of tossing it up his own ass and now, since he is screwed, is trying to bring everyone else down with him....did I mention the money thing? Yeah, he ain't buying his way out of this one & for the record, didn't make it on his own steam either....he made it on everyone else's.

I could go on for days (and I am sure ye all don't want to hear it) but the point being...that quick satisfaction of cash, whores, cars, is just that...quick...like a flash in  the pan as they say. And I giggle everytime I think of the "chit-storm" Nevin brought on himself...quick fun...and now the majority of the best part of his life to sit around and think about it.

Sorry about the rambling, but between the NFL, the NBA, our soldiers across seas, the economy (or lack thereof) and all this crybaby bullshit....I dunno, it's just getting old.

God forbid we do something about it.....

Signed... "A pissed off father with a beautiful family hoping for better days..."



Since: Sep 28, 2007
Posted on: August 18, 2011 6:51 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

Alvarez learned cheating under the master, Lou Holtz, while at notre dame. Nothing he does or has done should be surprising.



Since: Sep 5, 2010
Posted on: August 18, 2011 5:05 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

Chad has an IQ of about 85.  If he had $400K floating around he either got it from daddy (and his connections) or he stole it.



Since: Jun 24, 2011
Posted on: August 18, 2011 2:25 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

sha snizzol!



Since: Feb 2, 2007
Posted on: August 18, 2011 1:33 pm
 

Barry Alvarez, son lost $1M in Shapiro scheme

Anyone with Izzo in their user name is a whinny little cry baby.


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