Award-Winning Tech Startup Founder Faces Criminal Fraud Charges

Christine Hunsicker, founder of the now-bankrupt clothing tech startup CaaStle, has been charged with defrauding investors of over $300 million. The Justice Department alleges she falsely promoted CaaStle as a $1.4 billion enterprise despite major financial troubles. Hunsicker faces six counts including wire fraud, securities fraud, and identity theft. Authorities claim she fabricated financial records, misled investors, and forged signatures to raise funds. The SEC also filed a civil lawsuit. Despite being previously recognized as a top entrepreneur, Hunsicker could face decades in prison if convicted. Her lawyers argue the indictment is misleading and say the full story is yet to unfold.