Cycling investment group director Samuel Mancini pleads guilty to securities fraud
April 7, 2022
Samuel Mancini, the director of a Denver-based fund that planned to invest in several well-known cycling brands, has pleaded guilty to one count of securities fraud.
Mancini, arrested last July, could be sentenced to up to 20 years in prison and hit with a $5 million fine for the one count. Prosecutors charged that Mancini, the managing director of Outdoor Capital Partners, raised over $11 million from about 40 investors in a plan to acquire De Rosa Cycles, De Marchi Apparel, Limar Helmets and Gruppo Srl, the parent of Cinelli and Columbus. None of the acquisitions were completed. Bicycle Retailer