Former CEO imprisoned for $11 million scheme to acquire top Italian cycling brands

Colorado man fraudulently raised millions from investors to supposedly acquire cycling brands De Rosa, De Marchi Apparel, Limar Helmets, Cinelli and Columbus, yet none of the acquisitions were made

Image of De Rosa bikes lined up
(Image credit: Getty Images)

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 ColumbusDe Rosa, De Marchi Apparel, and Limar Helmets. However, none of the acquisitions were completed, and investors say their investments were not returned. 

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