David Bunevacz to face up to 40 years in prison for cannabis-related scam

Jan Milo Severo - Philstar.com
David Bunevacz to face up to 40 years in prison for cannabis-related scam
David Bunevacz and wife Jessica Rodriguez
The STAR / File

MANILA, Philippines — US Attorney's Office in the Central District of California announced that former Philippine athlete David Bunevacz agreed to plead guilty to two federal crimes for scamming investors of over $28 million.

According to US Attorney’s Office Central District of California, David pleaded guilty to one count of securities and fraud and one count of wire fraud. 

Both crimes carry a statutory maximum penalty of 20 years in federal prison, so he could face up to 40 years in jail, according to a Rolling Stone report.

David was arrested last April 5 and is expected to plead guilty to the charges in the coming weeks. 

According to his plea agreement, going back to 2010, Bunevacz created several business entities – including Holy Smokes Holdings LLC and Caesarbrutus LLC – that he claimed were involved in the cannabis industry and the sale of vape pens containing cannabis products such as CBD oil and THC.

David told his investors that he had a longstanding relationship with a Chinese manufacturer of disposable vape pens. He also reportedly forged documents such as bank statements, invoices and purchase orders to support his claims. 

He, however, used the funds for his own opulent lifestyle, including a luxurious house in Los Angeles, Las Vegas trips, jewelry, designer handbags, a lavish birthday party for his daughter, and horses.

David reportedly raised between approximately $37,166,737 (over P2 billion) and $45,068,227 (over P2.5 billion) from more than 10 victim-investors. He admitted to causing losses of at least $28,409,112.

Apart from sports, Bunevacz made headlines in Philippine showbiz for being the ex-boyfriend of former beauty queen and actress Anjanette Abayari. He is now married to former actress and model Jessica Rodriguez.

RELATED: Anjanette: Blast from the past

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