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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.

David Joseph Bunevacz, 53, of Calabasas, agreed on Wednesday to plead guilty at a later date to securities and wire fraud.

He could face up to 20 years in federal prison when he is sentenced in Los Angeles, the U.S. attorney’s office said.

According to his plea agreement, as far back as 2010 Bunevacz created several businesses that he claimed were involved in the cannabis industry and the sale of vape pens, prosecutors said.

He raised tens of millions of dollars from at least 10 investors, prosecutors said.

But instead of financing business operations, Bunevacz used much of it to fund a lifestyle that included a fancy house, Las Vegas trips, jewelry, designer handbags, horses and a lavish birthday party for his daughter, the U.S. attorney’s office said in a statement.

Bunevacz is a former University of California, Los Angeles, decathlete and competed for the Philippines in the 1990s.

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Search For Person In Water Along Morrissey Boulevard In Dorchester Underway (DEVELOPING)

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Police Raid Home Of Bergen County Man Accused Of Stabbing Author Salman Rushdie During Lecture

Law enforcement agencies descended on a Fairview home the evening of Friday, Aug. 12, amidst the investigation into a local 24-year-old resident accused of stabbing author Salman Rushdie while he gave a lecture in western New York that morning.

Hadi Matar was taken into custody after storming the stage at the Chautauqua Institution and stabbing the 75-year-old author multiple times, State Police Troop Commander Major Eugene J. Staniszewski said in a news conference.

Police had barricaded off Morningside Avenue, allegedly executing search warrants. Meanwhile, Rushdie remained in surgery.

This is a developing story. Check back for more.

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