Former athlete David Bunevacz sentenced to over 17 years in prison due to scam business
DAVID BUNEVACZ – The Filipino-American businessman and former celebrity athlete was sentenced to more than 17 years in prison for a vape business scam.
Bunevacz, a former professional athlete, was found guilty of defrauding investors to fund his cannabis vape pen business. Judge Dale S. Fischer of the United States District Court gave him a 17 1/2-year prison term and a $35,267,851 restitution mandate.
The Central District of California, USA, delivered the judgment on Monday, November 21, 2022 (November 22, Philippine time). According to court documents, David raised more than $35 million to finance his fictitious cannabis vaping businesses.
David’s fraud began in 2010, when it was discovered that he had set up several fictitious cannabis-related businesses, including Caesarbrutus LLC and CB Holding Group Corp., to lure in investors. He claimed that these businesses dealt with the sale of vape pens that contained cannabis products like CBD oil and THC.
David Bunevacz repeatedly misled investors by fabricating bank statements, transferring funds to fake businesses, and making up stories about his prior legal infractions. Based on a press release from the U.S. Attorney’s Office for the Central District of California, he used “forged documents—such as bank statements, invoices, and purchase orders” to persuade the investors.
This is not the first time the Fil-Am businessman had been sought out by the police on suspicion of engaging in illegal activity. David was sued in 2010 for running a ticket sales fraud in relation to the 2010 Winter Olympics.
Gene Hammett, a reseller who paid $3 million for the service, was not given the 17,000 tickets to the Winter Olympics that David had promised. His subsequent punishment included 30
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