NASHVILLE, Tenn. (WKRN) – A Nashville woman will spend nearly six years in federal prison after being accused of bilking investors by claiming that her sports marketing agency represented famous athletes, according to the Department of Justice (DOJ).
The DOJ said 41-year-old Katie Lynn Mancuso, who owned Gray Area Marketing in Nashville, was initially charged with bank fraud and wire fraud in September 2021 after operating a fraudulent scheme that led to her receiving $2.8 million from investors.
Starting in 2017, Mancuso solicited funds from investors and falsely represented that her agency had been awarded contracts to perform marketing services for professional athletes, officials reported.
In addition, the DOJ accused Mancuso of the following actions:
- She not only overstated Gray Area’s assets and receivables, but she also promised to repay investors’ funds within 90 days and with a rate of return usually between 15% and 25%.
- She provided investors with fake emails and invoices — including invoices falsely reflecting money owed to Gray Area by vendors such as Nike, Oakley, and Under Armour for services rendered — to make her business appear legitimate.
- She forged an attorney’s signature on a fraudulent attorney-client representation, as well as forged the signatures of another individual on a purported contract.
Between June 2017 and February 2021,…
