Fash Life

Christine Hunsicker, founder and former CEO of the fashion technology startup CaaStle, was indicted in July 2025 for allegedly orchestrating a $300 million fraud scheme involving investors, financial institutions, and a related company called P180.

According to the U.S. Attorney’s Office for the Southern District of New York, the charges include wire fraud, securities fraud, bank fraud, and aggravated identity theft.

The indictment states that from 2019 to 2025, Hunsicker allegedly misrepresented CaaStle’s financial health by providing falsified revenue figures, doctored bank records, and fabricated audit reports to attract investors.

Court documents indicate that CaaStle, which operated a “Clothing-as-a-Service” model for brands including Ann Taylor and Bloomingdale’s, reported over $400 million in revenue on investor materials.

However, internal records cited by prosecutors allegedly showed revenue of approximately $15.7 million in 2023 and an operating loss of more than $80 million.

In March 2025, Hunsicker was removed as CEO by the CaaStle board. The company subsequently filed for Chapter 7 bankruptcy protection in June 2025 in the District of Delaware, listing assets and liabilities between $10 million and $50 million. Employees were furloughed, and the company ceased operations.

The indictment also includes allegations of similar misconduct related to a separate venture, P180, which reportedly raised over $30 million in investor funds.

Hunsicker pleaded not guilty and was released on a $1 million bond. Her legal team has stated that she has cooperated with authorities and that the government’s portrayal of the case does not present the full picture.

As of July 2025, investigations are ongoing and no trial date has been set.