California man will plead guilty in cannabis pen fraud

LOS ANGELES (AP) — A Southern California man who once competed on the Philippines national decathlon team has agreed to plead guilty to bilking investors out of more than $28 million with a phony scheme to market cannabis vape pens. Federal prosecutors announced Friday that David Bunevacz of Calabasas will plead guilty to securities and wire fraud. Prosecutors say Bunevacz created several businesses that he claimed were involved in the cannabis industry and the sale of vape pens but used most of the money he raised on a lavish lifestyle. Bunevacz is a former University of California, Los Angeles, decathlete and competed for the Philippines in the 1990s.