Crime briefs: Woman faces federal charges in Ponzi scheme | News
Woman faces federal charges
in Ponzi scheme
Katie Lynn Mancuso, 40, of Nashville, was charged on Thursday with bank fraud and wire fraud resulting from a fraudulent scheme in which she received more than $2.8 million from investors, announced acting U.S. Attorney Mary Jane Stewart for the Middle District of Tennessee.
According to the charging document, Mancuso owned and operated Gray Area Marketing in Nashville, which was purportedly a sports marketing agency representing famous athletes. As part of the fraudulent scheme and beginning in June 2017, Mancuso solicited funds from investors and falsely represented that Gray Area had been awarded contracts to perform marketing services for professional athletes. Mancuso overstated Gray Area’s assets and promised to repay investors’ funds within 90 days and…