David Bunevacz, 53, of Calabasas was sentenced by U.S. District Judge Dale Fischer, who also ordered him to pay $35 million in restitution.
At the hearing, Fischer noted that Bunevacz had “preyed on individuals who believed he was their friend” and that the “seriousness of conduct cannot be captured in mere dollars and cents,” according to the U.S. Attorney’s Office.
Bunevacz pleaded guilty in July to one federal count each of securities fraud and wire fraud. He has been in federal custody since his arrest on April 5. He falsely told at least one investor he had a long-standing relationship with a Chinese manufacturer of disposable vape pens. Bunevacz provided investors with forged documents, including bank statements, invoices and purchase orders, to support his claims of the businesses’ success and the need for investor funds, according to his plea agreement.
France Dernières Nouvelles, France Actualités
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