Caastle Fashion Startup founder Christine Hunsicker turned to the authorities on Friday to respond to fraud, Authorities confirmed to Bloomberg.
US lawyer in the southern region of New York closed to prosecution By charging him for leadership fraud, securities, money laundering, assault on identity theft and lying to financial institutions. He is accused Fraud by their investors over $ 300 million.
Hunsicker resigned as CEO of Caastle after his government misleaded investors about the company’s financial result. The company raised more than $ 500 million in funding and left bankruptcy in June.
In addition to the SEC case, a clothing company and an investment vehicle launched by Caastle also challenges the company in financial matters. Two former employees told Techcrunch that they were not surprised to hear that the company faced financial problems about how discretion leaders were approaching the company’s financial health.
