Fashion Startup Castle founder Christine Hanikar on Friday converted himself into officials to face fraud allegations, Officials confirmed from Bloomberg,

American Attorney for Southern District of New York Unheard of an indictment Against him, he was to charge wire fraud, securities fraud, money laundering, identity theft, and charging from financial institutions. He is accused Cheating your investors of over $ 300 million.

Hansikar resigned as CEO of Castal Accused after his board He misled investors about the company’s financial performance. The company raised more than $ 500 million in funding and filed for bankruptcy in June.
In addition to the case of SEC, an investment vehicle launched by a garment company and a castal The company is also prosecuted On financial matters. Two former employees told Techcrunch that they were not surprised to hear that the company had faced financial troubles as to how the company was prudent about the financial health of the company.