A former UCLA decathlete who also competed with the Philippines national team was arrested April 5 on a federal charge that he fraudulently raised more than $37 million from investors who were told their funds would be used to finance companies marketing cannabis vape pens.
David Bunevacz of Calabasas was taken into custody following a March 30 complaint that charges him with one count of wire fraud. The 53-year-old Bunevacz reportedly solicited investments in various businesses—CB Holding Group Corp. and CaesarBrutus LLC, among others—that he says were involved in the sale of vape pens containing cannabis products such as CBD oil and THC.
David Bunevacz photo courtesy Interaksyon
Federal prosecutors say Bunevacz falsely told at least one investor he had a long-standing relationship with a Chinese manufacturer of disposable vape pens and that he had obtained the materials and ingredients to manufacture a “smooth and discrete” vape. The complaint also alleges Bunevacz provided investors with forged documents—bank statements, invoices, purchase orders—to support his claims of success and his need for investor funds.
Some of the money has been recovered, and the actual loss suffered by the victims is between $28 and $35 million, authorities said.
Bunevacz is a also a former male model. At UCLA he set a school record in the javelin throw and won a 1991 Pac Ten championship. In 2021 his net worth was estimated at around $3 million.
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