Christine Hunsicker, founder of fashion tech startup CaaStle, has admitted to securities fraud in federal court and agreed to forfeit almost $300 million. She was initially charged with two counts of securities fraud, money laundering, and making false statements to a financial institution among other charges related to defrauding hundreds of investors. Hunsickers was accused of lying to and misleading investors in two companies, CaaStarStle and P180, which were intended to acquire clothing brands. She allegedly used these funds to purchase discounted shares from existing shareholders and use the money as new capital for CaAStle. Over $275 million in investor money was fraudulently induced as a result of the scheme. Despite being banned from soliciting more investments, she allegedly sold over $13 million in her shares in CaaStele and another venture without disclosing important information to investors.