Christine Hunsicker, CaaStle CEO, Confessed to Fraud. The Board Let Her Stay in Charge.

Article excerpt

Christine Hunsicker, CEO of fashion tech start-up CaaStle, confessed to committing fraud against the company, yet the board allowed her to remain in charge during its final months. In that period, the company manufactured fake audits, executed stock buybacks, and orchestrated a damage-control strategy orchestrated by the very executive who had defrauded it. The sequence reveals a spectacular breakdown in corporate governance, where a board apparently chose to let the person who admitted wrongdoing manage the company's collapse.