According to a federal indictment and other court filings, while raising capital for the business in 2023, Hunsicker provided investors with falsified financial statements, bank records and other corporate documents that “grossly overstated CaaStle’s operating profit, revenue, and available cash” — and she also sent fake audits to investors while seeking capital.
In 2024, she also raised capital from CaaStle investors for another venture, P180, relying on misrepresentations about CaaStle’s finances.
“Christine Hunsicker fashioned a massive fraud scheme, built on forged documents, fabricated audits, and material misrepresentations to hundreds of venture capital investors,” declared Jay Clayton, U.S. attorney for the Southern District of New York, in a release.
Ultimately, CaaStle filed for bankruptcy protection in June 2025.
In a parallel action, the U.S. Securities and Exmodify Commission filed a separate civil action in the case, seeking disgorgement, civil penalties and an officer and director ban against Hunsicker.
She is scheduled to be sentenced in the criminal case on Aug. 5.
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