The Business of the Clothing Technology Christine Hensicker accused of $ 300 million in the US.

An outstanding entrepreneur founded the startup of clothing technology now bankruptcy, Caastle, was criminally accused on Friday of defrauding investors of more than $ 300 million, said the United States Department of Justice.

The authorities said that Christine Hunsicker, 48, of Lafayette, New Jersey, promoted investors to fall as a business of more than $ 1.4 billion “clothes as a service” that helped companies rent consumers to consumers with an option to buy, despite knowing that he was financially in cash and little in cash.

The alleged fraud covered six years since 2019, three years after the student of Princeton University was appointed one of the “most impressive women of women” and the business of Crain's New York “40 Sub 40”.

Hunsicker was accused in an accusation of six positions with electronic fraud, values fraud, money laundering, making false statements to a bank and theft of aggravated identity.

The authorities were given and could face decades in prison if it is declared guilty. The stock exchange and values commission filed a related civil demand.

In a joint statement, the lawyers of Hensicker, Michael Levy and Anna Skotko, said the accusation presented “an incomplete and very distorted image”, despite the fact that their client was “completely cooperative and transparent” with prosecutors.

“There is much more in this story, and we hope to tell it,” added the lawyers.

The authorities said Hunsicker falsified the financial statements and bank records of Caastle to raise capital.

This included alleged representations that Caastle earned $ 66.3 million in revenues of $ 439.9 million in 2023, when it actually lost $ 81 million in revenues of $ 15.7 million.

Hunsicker was also accused of falsely telling investors that his money would go to buying actions with discount from existing shareholders who needed liquidity, even after the 2022 collapse of the exchange of FTX cryptocurrencies.

In one case, Hunsicker allegedly raised more than $ 20 million after forging the signature of a Caastle director authorizing the issuance of shares on shares to an investor.

Prosecutors said Hunsicker fraudulently raised more than $ 275 million for Caastle and $ 30 million for a related company, P180.

Caastle appeared to the bankruptcy liquidation of Chapter 7 in Delaware on June 20.

“The promise of Latin technology companies can be a fertile land for scammers who play with the euphoria of the investor,” said US prosecutor Jay Clayton in Manhattan in a statement.