The investigation is over.

The NCAA delivered its Notice of Allegations to the University of Miami on Tuesday, nearly two years after NCAA president Mark Emmert said the governing body of college athletics launched its inquiry into alleged improprieties by athletes, coaches and staff members.

A source told The Miami Herald that UM has been accused of a “lack of institutional control” violation, which could lead to the death penalty, but is not expected to happen.

“A lack of institutional control,” according to the NCAA, “is found when the Committee on Infractions determines that major violations occurred and the institution failed to display adequate compliance measures, appropriate education on those measures, sufficient monitoring to ensure the compliance measures are followed and swift action upon learning of a violation.”

UM President Donna Shalala took issue with the NCAA’s investigation, alleging that the NCAA believed some of former booster Nevin Shapiro’s claims without corroboration from anyone else.

While the university chose not to release a copy of the allegations because it is a private school and has the right to withhold the information, Shalala, who was courtside in the BankUnited Center on Tuesday night for a UM basketball game, released the following statement from the game:

“The University of Miami deeply regrets and takes full responsibility for those NCAA violations that are based on fact and are corroborated by multiple individuals and/or documentation. We have already self-imposed a bowl ban for an unprecedented two-year period, forfeited the opportunity to participate in an ACC championship game, and withheld student-athletes from competition.

“Over the two and a half years since the University of Miami first contacted the NCAA enforcement staff about allegations of rules violations, the NCAA interviewed dozens of witnesses, including current and former Miami employees and student-athletes, and received thousands of requested documents and emails from the University.

“Yet despite our efforts to aid the investigation, the NCAA acknowledged on February 18, 2013 that it violated its own policies and procedures in an attempt to validate the allegations made by a convicted felon. Many of the allegations included in the Notice of Allegations remain unsubstantiated.

“Now that the Notice of Allegations has been issued, let me provide some context to the investigation itself:

• “Many of the charges brought forth are based on the word of a man who made a fortune by lying. The NCAA enforcement staff acknowledged to the University that if Nevin Shapiro, a convicted con man, said something more than once, it considered the allegation “corroborated” — an argument which is both ludicrous and counter to legal practice.

• “Most of the sensationalized media accounts of Shapiro’s claims are found nowhere in the Notice of Allegations. Despite their efforts over two and a half years, the NCAA enforcement staff could not find evidence of prostitution, expensive cars for players, expensive dinners paid for by boosters, player bounty payments, rampant alcohol and drug use, or the alleged hundreds of thousands of dollars in cash and gifts given to student-athletes, as reported in the media. The fabricated story played well — the facts did not.