California man gets 17 1/2 years for cannabis pen fraud

A Southern California man who as soon as competed on the Philippines nationwide decathlon group was sentenced Monday to 17 1/2 years in federal jail for bilking traders out of greater than $35 million with a phony scheme to market hashish vape pens.

David Joseph Bunevacz additionally was ordered to pay $35.2 million in restitution by U.S. District Choose Dale S. Fischer, who mentioned he had “preyed on people who believed he was their pal” and that the “seriousness of (his) conduct can’t be captured in mere {dollars} and cents,” in accordance with an announcement from the U.S. legal professional’s workplace.

Bunevacz, 53, of Calabasas, pleaded responsible in July to securities fraud and wire fraud.

In line with his plea settlement, Bunevacz created a number of companies way back to 2010 that he claimed have been concerned within the hashish trade and the sale of vape pens.

He raised tens of thousands and thousands of {dollars} from not less than 10 traders, prosecutors mentioned.

However as an alternative of financing enterprise operations, Bunevacz was accused of utilizing a lot of it to fund a way of life that included a flowery home, Las Vegas journeys, jewellery, designer purses, horses and a lavish birthday celebration for his daughter.

Bunevacz is a former decathlete on the College of California, Los Angeles, and likewise competed for the Philippines within the Nineties.