Latest news with #ProjectRunway
Daily Mail
2 days ago
- Business
- Daily Mail
Fashion mogul and Project Runway judge 'googled how to commit fraud to pull off $300M scheme'
A fashion mogul and former Project Runway judge has been accused of a staggering $300 million fraud. Christine Hunsicker, 48, of Lafayette, New Jersey, is charged with six counts, including fraud, aggravated identity theft and false statement charge. Prosecutors say she forged documents and misrepresented her company's financial condition to defraud investors in her companies CaaStle Inc. and P180. Hunsicker created several fake audits for investors that showed the company had significantly more money available than it did, according to prosecutors. She was eventually confronted by another investor in October 2024 but feigned innocence, the indictment said. However immediately after the investor left, she googled 'faking an audit', according to the complaint. Her lawyers said that the indictment was a 'distorted picture' which they are keen to challenge in court. Before the fraud allegations emerged, Hunsicker seemed to be a rising star in the fashion world after she was named to Crain's New York Business '40 under 40' list. She was selected as one of Inc.'s Most Impressive Women Entrepreneurs and was recognized by the National Retail Federation as someone shaping the future of retail, the indictment noted. She also appeared as a judge on Project Runway in 2016 and has been pictured posing alongside Bill and Hillary Clinton. It is a far cry from the salacious allegations which appear in the indictment which narrates how she allegedly tried to cover up her tracks. Hunsicker created fake audits that showed CaaStle had $50million in cash available, when in reality it had less than $1million in August 2023, the indictment states. She also told investors that the shares they were buying were from other shareholders who were liquidating their assets, when in fact, those people didn't exist, the indictment said. She told them the shareholders were liquidating their assets due to a 'family health emergency' or do to the FTX collapse, which saw founder Sam Bankman-Fried sentenced to 25 years for also scamming his investors. 'To maintain the fiction, after facilitating the supposed secondary sales, HUNSICKER issued fake capitalization tables to the investors to demonstrate that they had purchased existing CaaStle shares,' the indictment, unsealed on Friday, said. The indictment said she portrayed CaaStle as a high-growth, private company with substantial cash on hand when she knew it faced significant financial distress. Hunsicker allegedly continued her fraudulent scheme even after the CaaStle board of directors removed her and prohibited her from soliciting investments or taking other actions on the company's behalf, the indictment said. She 'persisted in her scheme' even after law enforcement agents confronted her over the fraud, the indictment said. At a time when the business was in financial distress with limited cash available and significant expenses, CaaStle was valued by Hunsicker at $1.4billion, the indictment said. Hunsicker was lying to investors in February 2019 and continued to do so through this March, prosecutors alleged. She allegedly told one investor in August 2023 that CaaStle reported an operating profit of nearly $24million in the second quarter of 2023 when its operating profit that quarter was actually less than $30,000. The indictment alleged that she carried out the majority of the fraud by bilking CaaStle investors of $275million before forming P180 last year to infuse CaaStle with cash before its investors could discover her fraud. Through misrepresentations and omissions, she cheated P180 investors out of about $30million, the indictment said. It said CaaStle filed for Chapter 7 bankruptcy last month, leaving hundreds of investors holding now-worthless CaaStle shares. She self-surrendered on Friday and she faces up to 50 years in prison. Defense Lawyers Michael Levy and Anna Skotko said in a statement that prosecutors, 'have chosen to present to the public an incomplete and very distorted picture in today's indictment.' They added this is despite Hunsicker's efforts to be, 'fully cooperative and transparent' with prosecutors and the Securities and Exchange Commission. 'There is much more to this story, and we look forward to telling it,' they said.
2 days ago
- Entertainment
Christian Siriano and Law Roach on the newest, 'spicy' season of 'Project Runway'
Designer Christian Siriano and 'image architect' Law Roach talk about giving contestants tough love, how to blow them away with a design and turning up the heat on the new season of 'Project Runway.'
3 days ago
- Entertainment
Heidi Klum challenges new 'Project Runway' contestants to make her a dress
Heidi Klum unveiled a fun challenge to the latest batch of contestants on "Project Runway" when she said, "Make me a dress for 'GMA.'" The challenge was announced Wednesday as contestants Ethan Mundt, Belania Daley and Jesus Estrada appeared on "GMA" and competed in the preliminary Caffeine Couture Challenge, which saw them sew sartorial creations in an ode to the caffeinated beverages so many of us love to sip each morning. Celebrity stylist Law Roach was on hand alongside designer and "Project Runway" season 4 winner Christian Siriano to critique the looks as they paraded down the "GMA" runway. Mundt, who previously competed on season 13 of "RuPaul's Drag Race" as Utica Queen, was first to display a dazzling creation in the form of a finely tailored tweed look that echoed the soft browns and creams one might encounter in a cappuccino. "That is a very expensive cappuccino," Roach said about the look, while Siriano called it "perfection" and "gorgeous." Daley's look was up next, a flowing ensemble modeled after a matcha latte with a sheer top layer over a boned corset, finished with mixed material pant utilizing ombre fabric to mimic the layered look of the drink. Roach noted the strong, clear reference to matcha throughout the look, while Siriano said of the look, "The movement is the best part." Estrada closed the segment with a three-dimensional floral top and high-waisted trousers done in various browns as an ode to mocha. The judges were in agreement on the beauty of the look, with Siriano announcing, "Mix my mocha up! I really need one!" After a short deliberation, the judges award the winning trophy and a $2,000 gift card to Daley, and a video message from Klum appeared, in which she asked the contestants the all-important question: "Would you please make me an outfit? Please, please, please, please, so I can wear it on the show?" Tune in on Aug. 6 when Klum appears on "Good Morning America" to reveal her outfit.
Yahoo
5 days ago
- Entertainment
- Yahoo
Order Up: ‘The Bear' Renewed for Season 5 by FX
The final episode of The Bear's fourth season is titled 'Goodbye,' but it won't be a permanent one. FX has ordered a fifth season of the Emmy-winning series, with the renewal coming less than a week after The Bear's fourth season premiered on June 25. As with previous seasons, the series will stream on Hulu. Season five is due sometime in 2026. More from The Hollywood Reporter Heidi Klum Makes Her 'Project Runway' Return in Season 21 Trailer 'Welcome to Wrexham' Spinoff 'Necaxa' Sets Premiere Date Rob McElhenney Files to Legally Change Name to "Rob Mac" 'The Bear continues to be a fan favorite worldwide, and their response to this season — as seen through incredibly high viewership — has been as spectacular as any of its previous seasons,' FX chairman John Landgraf said in a statement. 'Year-in and year-out, [creator] Chris Storer, the producers, cast and crew make The Bear one of the best shows on television, and we are excited that they will continue to tell this magnificent story.' FX and Hulu have not released any viewing figures for season four. Past seasons have performed well, however: Season three spent six weeks on Nielsen's streaming top 10 charts — a fairly long time for a binge release — and racked up about 4.5 billion viewing minutes in that span. The current season, which filmed back-to-back with season three, finds Carmy (Jeremy Allen White), Sydney (Ayo Edebiri), Richie (Ebon Moss-Bachrach) and the rest of the staff at The Bear trying to push the restaurant forward — while a ticking clock reminds everyone just how long they have before they run out of money. Abby Elliott, Lionel Boyce, Liza Colón-Zayas and Matty Matheson also star, with Oliver Platt and Molly Gordon playing recurring roles. Series creator Christopher Storer executive produces with Josh Senior, Joanna Calo, Cooper Wehde, Tyson Bidner, Matty Matheson, Hiro Murai and Rene Gube. Courtney Storer is co-EP and culinary producer. FX Productions is the studio. Best of The Hollywood Reporter 'The Studio': 30 Famous Faces Who Play (a Version of) Themselves in the Hollywood-Based Series 22 of the Most Shocking Character Deaths in Television History A 'Star Wars' Timeline: All the Movies and TV Shows in the Franchise
Pink Villa
5 days ago
- Entertainment
- Pink Villa
Project Runway Trailer Records Highest Viewership in Freeform History: All We Know About Heidi Klum Starrer
Project Runway is one of the highly anticipated shows, as it is set to return to the screens with season 21. The fans of Heidi Klum are excited for the German model to take over as a host in the Disney Reboot. While the big premiere of the series is still weeks away, the show has already created a buzz among fans, as the trailer has 49 million views. The show's trailer created a freeform history, as it recorded the highest viewership to date. Moreover, Project Runway achieved the milestone just nine days after the preview was dropped on the streaming platform. Project Runway trailer breaks records Project Runway has set the stage for itself by bringing Heidi Klum back on the screens after almost 7 years. The model and the reality TV personality made their last appearance in 2018. Moreover, Klum will be joined by Nina García, Law Roach, and Christian Siriano. According to Disney reports, the show's trailer broke the Freeform record after Cruel Summer 2 moved at a similar pace in 2023, and gained the viewership of 24 million in just 10 days. The show made its debut in 2004, bringing in a revolution in the fashion industry and the way that the models dress on the screen. Project Runway ran on Bravo for five seasons before getting placed at Lifetime for 11 other seasons. From the 17th season, the show returned to Bravo. The show is hailed by Spyglass Media Group and Alfred Street Industries. Other producers onboard include Dan Cutforth, Jane Lipsitz, Nan Strait, Dan Volpe, Michael Rucker, San Heng, Klum, Siriano, and Garcia. Project Runway will be available to stream on Hulu and Disney+ from July 31.
