Joe Biden Commutes Sentence Of UMiami Booster, Ponzi Schemer Nevin Shapiro

President Joe Biden commuted the two-decade-long prison sentence of University of Miami booster and Ponzi scheme mastermind Nevin Shapiro ... who previously admitted to illegally plying players with expensive gifts.

The commutation of the 55-year-old convicted felon was one of 1,499 handed down by Biden on Thursday ... a one-day record for a POTUS.

Shapiro pled guilty to 8 felony counts -- and was sentenced to 20 years in Federal prison -- for his role in a $900+ million Ponzi scheme, which he ran from his Capital Investments office in Miami.

After entering prison in 2013, Shapiro was let out in April 2020 during the COVID-19 pandemic, and was placed on house arrest -- where he remained until Biden's decision.

Nevin did not face criminal charges for the UM scandal ... but the NCAA did hand down sanctions.

President Biden didn't specifically address the decision to include Shapiro on the list ... but the White House did address the news as a whole.

“As the President has said, the United States is a nation of second chances," the statement read. "The President recognizes how the clemency power can advance equal justice under law and remedy harms caused by practices of the past."

"The nearly 1,500 individuals who received commutations today have been serving their sentences at home for at least one year under the COVID-era CARES Act. These Americans have been reunited with their families and shown their commitment to rehabilitation by securing employment and advancing their education ... These individuals are parents, veterans, health care professionals, teachers, advocates, and engaged members of their communities. Many of them have used their experiences in the criminal justice system to inspire and encourage others."

Of course, a commutation is not like a pardon -- Shapiro will not be forgiven for the crime ... but his sentence is now greatly reduced.