A cycling investor and former CEO of Outdoor Capital Partners – a fund set to invest in a group of cycling companies – received a 71-month prison sentence for securities fraud, on Tuesday.
Samuel J. Mancini fraudulently raised nearly $11 million from investors to acquire top Italian cycling brands, including Gruppo Srl – the parent of Cinelli and Columbus – De Rosa, De Marchi Apparel, and Limar Helmets. However, none of the acquisitions were completed, and investors say their investments were not returned.
