(UPDATE) LOS ANGELES: 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 (Saturday in Manila).

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 US attorney's office said.