Christine Hunsicker was sentenced to five years in federal prison on Thursday for a $300m fraud scheme that defrauded hundreds of investors, the Manhattan US attorney's office announced.

Hunsicker, the 49-year-old founder and former chief executive officer of CaaStle Inc, pleaded guilty in March to one count of securities fraud, according to authorities.

Prosecutors said Hunsicker gave investors falsified income statements, fake audited financial statements and fictitious bank records that overstated the company's operating profit and revenue between 2019 and 2025.

Attorneys for Hunsicker did not immediately respond to a request for comment, according to the Guardian, Victoria Bekiempis reports for Guardian business.