A one-time ’40 under 40′ rising star in fashion pleads not guilty to charges she allegedly cheated investors out of $300 million

The 48 -year -old Christine Honsker, from Lavaiite, New Jersey, was charged with six charges, including fraud, strict identity, and the wrong statement of the indictment in the Federal Manhattan Court.

US lawyer Jay Clayton said in a statement that Hensker is forged documents, fabricated reviews and made material distortions about the financial situation of her company to defraud investors at Caastle Inc. And P180.

The indictment said that Hensicar, who was once filmed as a sore throat, photographed Castel as a high -growth company that has great money when she knew that she faced great financial hardship.

In a statement, defense lawyers Michael Levy and Anna Scotco said that the prosecutors “chose to present the public with a very complete and dispersed image of the indictment today”, despite Honsker’s efforts to be a “complete cooperative and transparent” with the prosecutors, the Securities and Stock Exchange Committee.

And they said: “There is a lot for this story, and we look forward to telling it.”

Honsker did not comment because she left the court with Scotcco after entering into an unpaid call and approving the bail of a million dollars, which included no contact with the existing or existing investors.

According to the indictment, Hunsicker continued its fraudulent scheme even after the Caastle Board of Directors removed it and banned it to seek investments or take other measures on behalf of the company.

The indictment said that she “continued to plan” even after law enforcement agents faced her because of fraud.

Before the fraud allegations appeared, Hunsicker seemed to be an emerging star in the fashion world after being appointed to the Crain List in New York “40 Under 40”, as one of the “most impressive entrepreneurs” at Inc. It was recognized by the National Federation of Retailing as a person that constitutes the future of retail trade.

The indictment said that Caastle has a Hunsicker at a time when the company was in a state of financial distress with limited money and great expenses, Caastle was estimated by Hunsicker at $ 1.4 billion.

Honsker was lying to investors in February 2019 and continued to do this during this march.

They said that the investors feed the income data falsely, the fake financial data, the fake bank account records and the records of tall companies.

He claimed that she had told an investor in August 2023 that Caastle reported operating profits of about $ 24 million in the second quarter of 2023, when his operating profits in this quarter were less than $ 30,000.

The indictment claimed that it carried out the majority of fraud by Caastle investors at $ 275 million before the formation of P180 last year to derive Caastle with money before investors could discover.

The indictment said that through distortions and negligence, investors were deceived by about 30 million dollars.

She said that Caastle applied to bankruptcy of Chapter 7 last month, leaving hundreds of investors with no unable to now. Honsker was forced to resign from the Caastle Board in December and officially resigned from the position of CEO in March.

In a relevant civil file, SEC said that “fake financial statements” of Honsker supported her novel that Caastle is close to a public offer or a preliminary sale in late 2022, where she enjoyed rapid and continuous growth in revenues after launching a new liquefy model called “clothing as a service”.

The lawsuit said: “In fact, Caastle’s revenues were shrinking, and its losses were increasing, and the company was never profitable,” said the lawsuit. “The current CaStele investor or potential investor has not received monthly, quarterly or annual financial data from Hunsicker.”