David Bunevacz sentenced to more than 17 years in prison for vape business scam

Former celebrity athlete David Bunevacz has been found guilty of fleecing investors to finance his cannabis vape pens business.

United States District Judge Dale S. Fischer sentenced David to 17 ½ years in prison and ordered him to pay $35,267,851 in restitution.

The verdict was handed down on Monday, November 21, 2022 (November 22, Philippine time) at the Central District of California, USA.

Court documents show that David raised more than $35 million to fund his fake cannabis vaping businesses.

David’s scheme dates back to 2010 when it was found that he created several bogus cannabis-related firms—CB Holding Group Corp. and Caesarbrutus LLC—to entice potential investors.

These companies, according to David, were in the business of selling vape pens containing cannabis products, like CBD oil and THC.

David deceived investors repeatedly by forging bank statements, funneling money to shell companies, and lying about his past legal transgressions.

The press release issued by the Central District of California’s U.S. Attorney’s Office stated that he “forged documents—such as bank statements, invoices and purchase orders” to convince the investors.

He used “the vast majority of the funds to pay for his own opulent lifestyle, including a luxurious house in Calabasas, Las Vegas trips, jewelry, designer handbags, a lavish birthday party for his daughter, and horses.”

Judge Fischer said that David “preyed on individuals who believed he was their friend,” adding that the “seriousness of [his] conduct cannot be captured in mere dollars and cents.”

PAST LEGAL TROUBLES

This is not the first time that David was chased by the law for suspicions of conducting illegal activities.

David was sued in 2010 for perpetrating a ticket sales scam in connection to the 2010 Winter Olympics.

David reportedly failed to deliver on his promise to provide 17,000 tickets to the Winter Olympics to reseller Gene Hammett who paid $3 million for the service.

He was then sentenced to 360 days in jail, three years of probation, and 300 hours of community service.

A settlement agreement was reached in 2014, obligating David to pay $325,000 to Gene, who was the aggrieved party.

David produced a counterfeit document of the said settlement agreement showing that the court decision was in his favor, according to an investor of his cannabis vape business.

In 2007, here in Manila, David and his wife, talent manager Jessica Rodriguez, were accused of embezzling funds from the aesthetic and cosmetic surgery clinic Beverly Hills 6750.

David served as the company president, while Jessica assumed the role of marketing director.

The former athlete was charged with estafa for allegedly squandering company funds to finance his extravagant lifestyle, something that became more apparent in the eyes of his business partners after David publicly gave Jessica a fancy BMW X5 as a gift.

David was said to have been physically assaulted by his partners as payback.

The incident prompted David, Jessica, and their kids to flee to the United States.