Clothing tech entrepreneur charged with $300 million fraud in US

A prominent entrepreneur who founded the now-bankrupt clothing technology startup CaaStle was criminally charged on Friday with defrauding investors out of more than $300 million, the U.S. Department of Justice said.

Authorities said Christine Hunsicker, 48, of Lafayette, New Jersey, promoted CaaStle to investors as a more than $1.4 billion “Clothing-as-a-Service” business that helped companies rent apparel to consumers with an option to buy, despite knowing it was financially distressed and short of cash.