A former UCLA decathlete who later represented the Philippines at observe and discipline occasions has been sentenced to 17.5 years in a federal jail for fraud.
David Bunevacz hugging and unnamed lady throughout an occasion within the Philippines, the place he was a tabloid star. The 53-year-old might be 70 when he’s launched from a federal jail. (Picture: Rappler)
American Philippine citizen David Bunevacz, 53, of Calabasas, Calif., stole greater than $35 million from traders, $8.1 million of which he blew at casinos, in response to federal prosecutors.
Bunevacz duped his victims into believing their cash would go in the direction of financing firms that marketed hashish vape pens.
In actuality, he spent the cash on “an expensive home in Calabasas, Las Vegas journeys, jewellery, designer purses, a lavish celebration for his daughter, and horses,” in response to court docket information.
Large within the Philippines
Bunevacz, a star within the Philippines, splurged $218,700 on the celebration and acquired a racing horse for $330,000, court docket filings state. Some investor funds have been used to repay earlier traders, bearing the basic hallmarks of a Ponzi scheme.
Bunevacz registered a number of shell firms to “create the false look that his firms have been engaged in authentic enterprise actions,” in response to prosecutors. He distanced himself from these firms by naming different individuals, together with his stepdaughter, as company officers.
He raised a complete of $45.2 million in fraudulent investments from greater than 100 traders. US District Choose Dale S. Fischer of the Central District Court docket of California dominated he was liable for losses amounting to greater than $35 million.
“The sense of violation, the assault on private dignity, and the lasting trauma [Bunevacz] has precipitated are very a lot paying homage to the hurt usually related to violent crimes,” prosecutors mentioned in a sentencing memorandum. “And, with properly over 100 victims, [Bunevacz] precipitated these harms at a scale hardly ever seen.”
Fame and Misfortune
After excelling as a pupil athlete at UCLA, Bunevacz’s performances caught the attention of Philippine sports activities officers. He was eligible to compete for the nation as a result of his mom was a Filipino.
His most interesting second got here within the 1997 Southeast Asian Video games, the place he received a gold medal in javelin. However his sports activities profession in the end didn’t set the world alight, in response to Rappler.
Subsequently, he tried his hand at film stardom, and acted in a number of movies for the Philippine market. He turned tabloid fodder within the nation due to his predilection for courting well-known actresses and wonder queens.
One, Anjanette Abayari, claimed in a 2015 tv interview that Bunevacz had used her as a drug mule. She was arrested at Guam Worldwide Airport in 2009 for possession of unlawful narcotics, which she claimed to know nothing about.
Bunevacz has one felony conviction within the US for the illegal sale of securities in 2017.
