David Bunevacz gets 17 years in jail, to pay P2B for cannabis-related scam

MANILA, Philippines — Filipino former decathlete and TV personality David Bunevacz was recently sentenced by California court to spend 210 months or 17 and a half years in prison and was ordered to pay about $35 million (more than P2 billion) in restitution for the victims of his alleged ponzi scheme.

Last July, United States Attorney's Office in the Central District of California announced that Bunevacz agreed to plead guilty to two federal crimes for scamming investors of over $28 million (more than P1.6 billion).

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. David was arrested last April 5.

According to his plea agreement, the scheme goes back to 2010 when 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 (more than P1.6 billion).

Apart from sports, Bunevacz made headlines in Philippine showbiz as the ex-boyfriend of former beauty queen and actress Anjanette Abayari, who also claimed to have been scammed by Bunevacz. He is now married to former actress and model Jessica Rodriguez.

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