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LOS ANGELES: A Southern California man who as soon as competed on the Philippines nationwide decathlon crew has agreed to plead responsible to bilking buyers out of greater than $28 million with a phony scheme to market hashish vape pens, federal prosecutors introduced Friday.
David Joseph Bunevacz, 53, of Calabasas, agreed on Wednesday to plead responsible at a later date to securities and wire fraud. He may withstand 20 years in federal jail when he’s sentenced in Los Angeles, the US lawyer’s workplace stated.
In line with his plea settlement, way back to 2010 Bunevacz created a number of companies that he claimed have been concerned within the hashish business and the sale of vape pens, prosecutors stated.
He raised tens of tens of millions of {dollars} from at the very least 10 buyers, prosecutors stated.
However as an alternative of financing enterprise operations, Bunevacz used a lot of it to fund a life-style that included a flowery home, Las Vegas journeys, jewellery, designer purses, horses and a lavish party for his daughter, the US lawyer’s workplace stated in an announcement.
Bunevacz is a former College of California, Los Angeles, decathlete and competed for the Philippines within the Nineties.
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