Overview

• Christine Hunsicker surrendered today and was indicted in the Southern District of New York on six federal counts, including wire fraud, securities fraud, money laundering, false statements and aggravated identity theft.
• The indictment alleges she raised more than $275 million for CaaStle and $30 million for P180 by submitting falsified income statements, audit reports and bank records from 2019 through 2024.
• Prosecutors contend she misled investors by fabricating the existence of shareholders to pose their capital as discounted share purchases while concealing CaaStle’s cash shortages.
• CaaStle filed for Chapter 7 bankruptcy on June 20, leaving investors holding now-worthless equity in the clothing technology startup.
• The Securities and Exchange Commission filed parallel civil charges against Hunsicker today, highlighting coordinated federal efforts to police pre-IPO investment practices.