David Bunevacz & Colossal Mining

Did David Bunevacz scam more people?


Colossal characters in chaos

PITY the chaps at Sydney-based Zodiac Capital as they prepare to raise $45 million to float their new venture, Colossal Mining, purchased from some pretty interesting characters in The Philippines.

Colossal’s assets, which include iron-sands deposits in the north and northwest Luzon region, are being transferred from a Filipino company of the same name founded by US-born former decathlete David Bunevacz and Tyrone Ong.

Unfortunately, the long-time business buddies have recently fallen out.

According to the Manila press, Ong is suing Bunevacz for embezzling funds from a cosmetic surgery they own together — Beverley Hills 6750 in Makati City.

While Bunevacz had long been renowned for his generosity — often shouting his staff Starbucks coffees — it was his purchase of a Porsche Cayenne in the same month he bought a new BMW for his wife that raised suspicions.

An external audit unearthed a “glaring misappropriation” of funds by the executive, including a deposit for the BMW, personal travel expenses and private school fees.

Zodiac director Peter Boonen, who is putting the final touches on Colossal Mining’s prospectus, insisted that the founders’ dispute would not affect the acquisition or the float.

Zodiac’s lucky shareholders, including US backers MDM Group and Key Capital Corporation, will be offered the right to purchase Colossal shares for 2c each, compared to the proposed public offer price of 20-25c a share.

Boonen pointed out that Bunevacz resigned from being Colossal Mining Corporation’s chief operating officer in December.

“We’re after the assets — not the people,” he said. “And we’ve got no issue with the credibility of Tyrone.”

But Ong, who remains president of the company, has had his own scrape with the law. He was subpoenaed by the Philippines’ National Bureau of Investigation in January to defend a manhandling complaint lodged by Bunevacz. Ong and four others have been accused of forcibly taking Bunevacz’s Porsche, an expensive watch and mobile phone.

While Zodiac has a few acquisitions on the go right now, let’s hope they spend a little extra time on this one.


David Bunevacz vs Cedric Lee

 Is this the start of the David Bunevacz & Jessica Rodriguez vs Cedric Lee & Vina Morales tag-team match?

Cedric Lee is the boyfriend of Vina Morales who is the business “partner” supposedly of Jessica Rodriguez. Most likely, this partnership was just for money….

NBI summons 5 in Bunevacz manhandling case

By Tina Santos
Philippine Daily Inquirer
First Posted 18:41:00 01/12/2008

MANILA, Philippines — The National Bureau of Investigation has subpoenaed five people accused of manhandling former decathlete David Bunevacz last November.

Summoned to appear before the NBI on Monday were Tyrone Ong, Cedric Lee, Louie Kau, Chito Ho, and Dominique Sytini, all of West Greenhills, San Juan, and reportedly business partners of Bunevacz.

Lawyer Sixto Burgos Jr., chief of the NBI Anti-Kidnapping, Hijacking and Armed Robbery Division, said they issued last Tuesday subpoenas to the five accused.

“We’re inviting them to shed light on the matter. We’ve already heard David’s side, we have to hear the other side of the story as well,” Burgos said.

Bunevacz, former president of Beverly Hills 6750 Cosmetic Surgery and Skin Institute, a high-end beauty clinic on Ayala Avenue, Makati City, filed with the NBI last month a complaint of physical injuries against his business associates whom he accused of manhandling him.

Bunevacz alleged that his partners also forcibly took his Porsche, an expensive watch, and his cell phone.

The alleged manhandling happened sometime in November when Bunevacz was asked by some of his business associates to meet with them in the Greenhills area, the NBI said.

“He (Bunevacz) claimed that he was manhandled, they boxed his ears,” Sixto said, adding that the former athlete likewise requested the NBI to provide him with security.

The management of the aesthetic clinic has accused Bunevacz of misusing the firm’s funds amounting to millions of pesos.

According to Dr. Eduardo Santos, president of the beauty clinic, their lawyers have already sent a letter demanding Bunevacz to explain the alleged questionable transactions during his term as president.

These transactions allegedly include the downpayment for a BMW X-5, a vehicle not listed as a company asset; two checks payable to cash charged against legal expenses which were never received by the payee law firm; multiple travel expenses not related to Beverly Hills 6750 business; and payments to a Montessori school and a junior baseball organization that were never recorded in company books.

Vina Morales, Cedric Lee, Judy Lee, Jessica Rodriguez & David Bunevacz

Source: http://www.pep.ph/news/14227/Vina-Moraless-current-beau-spotted-in-an-event-with-ex-wife

Please click this article regarding the strange relationship of Vina Morales and Cedric Lee.

Here are the facts:

1. Cedric Lee, a businessman, is the boyfriend of Vina Morales.

2. Judy Lee, the ex-wife of Cedric Lee, is the business-partner of Jessica Rodriguez and David Bunevacz.

3. Vina Morales is the close friend of Jessica Rodriguez and David Bunevacz.

4.  Vina Morales and Judy Lee are connected to Cedric Lee obviously.

5. Cedric Lee is also connected to Jessica Rodriguez and David Bunevacz.

6. David and Jessica have a business (if it still exists) that deals with BEAUTY

7. It is one big happy family.

It is quite intriguing that Vina Morales and David Bunevacz were together in the Supreme Court En Banc hearing of the Heirs of Homer Barque and they actually sat on the side of the Heirs of Homer Barque.

Are they part of the Heirs of Homer Barque Land Scam?

Did they sell non-existent lots? Did they buy non-existent lots?