Thursday, November 24, 2022
HomeCasinoEx-UCLA Athlete Who Misplaced $8m at Casinos Jailed for Fraud

Ex-UCLA Athlete Who Misplaced $8m at Casinos Jailed for Fraud


An ex-UCLA decathlete with a on line casino jones has clocked the worst time of his life after a choose sentenced him to 17.5 years in jail for a $45.2m hashish vape pen Ponzi scheme. [Image: Shutterstock.com]

Ex-track star to serve time

The legislation has lastly caught as much as hashish Ponzi-scheming former UCLA decathlete David Bunevacz. US District Decide Dale S. Fischer has sentenced him to 17.5 years in a federal jail for fraud.

scammed traders over hashish vape pens

In California on Monday, Decide Fischer sentenced the 53-year-old Calabasas resident to 210 months in jail for fraudulently incomes $45m+ in funds. He scammed traders over hashish vape pens in a basic Ponzi scheme.

The US Legal professional’s Workplace Los Angeles (USAO-LA) shared Bunevacz’s sentence through Twitter:

In accordance with an affidavit cited by US Legal professional’s Workplace Central District of California (USAO-CDC) on Bunevacz’s arrest in April 2022, the ex-decathlete allegedly spent $8.1m of the stolen money at casinos. He spent additional funds on different extravagances, equivalent to a $330,000 horse.

Together with the jail time period, Decide Fischer additionally ordered Bunevacz — who has remained in federal custody since his arrest and July 18 conviction — to pay $35.3m in restitution.

Jeckyll and Hyde

Put up UCLA, Bunevacz represented the Philippines within the decathlon at monitor and discipline meets. In accordance with a DOJ information launch Monday, the scammer used his athletic previous to tout his success through a weblog. One other instrument he used to color the image of a profitable, public going through household was his spouse and daughter’s appearence in a actuality TV present.

Behind the general public eye, nevertheless, Bunevacz was as hinky as a used pole vault.

As Decide Fischer famous, Bunevacz:

“preyed on people who believed he was their good friend.”

Relationship again to 2010, Bunevacz created a number of companies that the Filipino American claimed have been lively within the hashish business “and the sale of vape pens containing hashish merchandise equivalent to CBD oil and THC.”

Lies Bunevacz informed traders included his established hyperlinks with a Chinese language producer of disposable vape pens, court docket paperwork reveal. The pens would supposedly then get crammed with “uncooked pesticide-free oil” which was enhanced by what Bunevacz allegedly known as “our proprietary customized course of” in a lab.

The disgraced ex-track and discipline star would furnish traders with cast paperwork equivalent to financial institution statements, buy orders, and invoices to again up the fictional success of his companies, and the following want for investor funding. A few of these funds have been allegedly used to reimburse earlier traders in a transfer straight out of the Ponzi scheme playbook.

Mass-scale harms

In accordance with the federal government submitting, the $45.2m Bunevacz made got here from:

“greater than 100 victim-investors.”

In a sentencing memo, prosecutors argued that given the quantity of victims plus “the sense of violation, the assault on private dignity, and the lasting trauma,” Bunevacz brought on “harms at a scale not often seen.”



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