CaaStle: The Devil Rents Prada
Show notes
If you're in the mood for a classic true crime beach read look no further than the CaaStle fraud! In 2024 Christine Hunsicker was a leather jacket wearing, mohawk donning, Forbes cover girl who made headlines for her clothing subscription service that boasted nearly a billion dollars in annual revenue. Investors were pumping her company full of cash on the promise of infinite hockey stick growth. But had those investors, including Bill Ackman and Peter Theil, used a single brain cell (!!) they would have discovered that Hunsicker's fashion business was a complete fabrication. By the end of the year she would plead guilty to a fraud worth $300m, one of the biggest financial frauds in recent history, and now faces up to 20 years in prison.
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Links:
This Startup Wanted to Revolutionize Fashion. Now It's Under Investigation for Fraud.
The Tech Fashion Darling Accused of Swindling Investors Out of $300 Million
CaaStle let CEO remain after learning of alleged fraud
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