Who is David Bunevacz? Former national athlete pleaded guilty to $45M scam in cannabis business
CALABASAS, CALIFORNIA: In an elaborate cannabis-based business scam, David Bunevacz, a former national athlete and model from the Philippines, pleaded guilty to two charges of defrauding investors in California of over $45 million. The Calabasas-based businessman pleaded guilty to one count of wire fraud and one count of securities fraud in front of a federal judge in California's Central District, according to court documents made public recently.
The judge sentenced David to 17 years in prison for scamming his investors. In 2010, David allegedly started several cannabis related businesses, including one that sold vape pens and solicited capital from investors in exchange for a profit. Now, let's learn more about this con man and about his scandals.
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Who is David Bunevacz?
The son of Filipino Filomena Ismaela from La Union and Hungarian-American Joseph Bunevacz, David, was born on December 20, 1968. He was raised in Torrance, a city in the state of California's Los Angeles County. Joseph, David's father, a track and field coach, and instructor, encouraged his interest in sports. A track athlete at the University of California, Los Angeles (UCLA), Bunevacz caught the attention of Philippine sports officials due to his impressive performances, as reported by Pep.
He graduated with a degree in business management in 1993 with a sociology concentration, and the Philippine Athletics Track and Field Association (PATAFA) then sought him out as a possible medalist for the decathlon, an athletics event that entails 10 track and field contests, as per reports. On October 12, 2000, in California, David legally wed Jessica Rodriguez, an actress and talent agent. On December 9 of the same year, the NBC Tent in Makati served as the location for the couple's lavish church wedding.
David Bunevacz's scandals
David became involved in a business scandal in the Philippines in December 2007 involving an upscale aesthetic clinic where he served as president and his wife, Rodriguez, as marketing director. He is accused of using company funds to buy a number of expensive vehicles, including a brand-new BMW X5, which he gave to Rodriguez. He was beaten, threatened with a gun, and made to sign away his Porsche Cayenne Turbo due to his following scam, according to the Los Angeles Times.
In March 2010, David entered into an agreement with Gene Hammett of Action Seating, a ticket broker for sporting events. David would receive $3 million worth of tickets to the 2010 Winter Olympics in Vancouver in exchange for payment, and Hammet would resell the tickets to interested parties, as per the claused of the deal. David was forced to pay Hammett $325,000 as a result of his failure to deliver, as reported by Rappler.
Bunevacz again made the headlines and was detained in April 2022 for a scheme to defraud investors. Mary Hayca Bunevacz, his stepdaughter, was also accused of being an accomplice. Between April 2017 and September 2019, David set up two front companies that allegedly produced marijuana vape pens, as per reports.
On July 18, 2022, David entered a guilty plea to one count of wire fraud and one count of securities fraud. United States District Judge Dale S Fischer also summoned him to pay $35,267,851 in restitution. Since his detention in this case on April 5, 2022, he has been held by federal authorities, according to the United States Attorney's office.