Say It Ain’t So, Joe!

By Vishnu Parasuraman (aka 2003alumgocanes) Follow me on Twitter and Facebook

DISCLAIMER:  A source independently reached out to me and gave me this information.  I have no way to vet this information or to corroborate it as an amateur blogger with no investigative experience.  I cannot confirm or deny the accuracy of this article, and am simply acting as a conduit for the source.  There is also rumor and speculation in this article which might or might not turn out to be true.  AATU is an opinion/analysis web site that is admittedly out of its domain here, but felt the story was important enough to print and that legitimate news media (which we obviously are not ) could then corroborate or refute this (in the latter case, we would obviously remove and retract the story).

Is Joe Pannunzio a corroborating source in the Miami scandal?  One of the curious things in Yahoo!’s now infamous Miami scandal probe is Nevin Shapiro’s refusal to name Joe Pannunzio by name.  Yahoo! Independently was able to confirm some infractions by Pannunzio through their own investigation.  Why would Shapiro name names in every instance but this one?

A source approached AATU with some information that might shed some light on this situation.  To do that, though, we must first head to Pueblo, Colorado.  The Pannunzio and DeRose families are prominent members of the Pueblo community and are the biggest boosters for the CSU (Colorado State-Pueblo) football program.  Dan DeRose and Nick Pannunzio (Joe’s brother) helped lead the fundraising effort to build the stadium at Colorado State-Pueblo and the stadium is named after Neta and Eddie DeRose.  Joe Pannunzio also attended the university and was inducted into the Hall of Fame in 2009 with another DeRose, Mark DeRose.

Source:  I pasted together 2 parts of the article.  The full article is here.


Why am I telling you a story about 2 families innocuously tied together?  Because according to our source, Dan DeRose invested over $2 million in Shapiro’s ponzi scheme at the behest of Joe Pannunzio (this investment is backed up by publicly available bankruptcy statements).

Source:  Public Bankruptcy Filing (Case 09-36408-LM)

Our source claims that Pannunzio agreed to back up Shapiro’s statements in an exchange for Shapiro not mentioning Pannunzio by name.  Any proceeds that Shapiro makes from book sales and/or a movie deal will be diverted back to investors, one of which is a longtime family friend of Joe Pannunzio, which is what our source claims motivated Pannunzio to support Shapiro.  Is this true and did Joe Pannunzio cut a deal?

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