American billionaire disowns son for swindling $2 million in ‘ultimate man cave’ scam: 'No relationship with this...'
David had claimed that ‘The Bunker’ would offer exclusive access to a collection of luxury cars like Ferraris, and Porsches, along with tailored dining experiences and premium wines and cigars
Donald Bren, the wealthiest real estate tycoon in the United States, has disowned his son, David, following accusations that the latter swindled investors out of more than $2 million with a fake business he pitched as the “ultimate man cave” for the ultra-rich – termed “The Bunker”.
As the allegations of “ultimate man cave” scam surfaced, Paul Hernandez, spokesperson for Donald Bren and Irvine Company, told The Post, “We do not have a personal or business relationship with this individual.”
David claimed that ‘The Bunker’ would offer exclusive access to a collection of luxury cars like Ferraris, Bugattis, and Porsches, along with tailored dining experiences and premium wines and cigars, according to investor materials reviewed by the Los Angeles Times.
Numerous lawsuits have claimed that David entirely invented the business concept referred to as “the Soho House for car lovers." The majority of investors said they lost no less than six-figure amounts in the alleged fraud that took place between 2020 and 2022, according to The New York Post.
One investor reportedly left California in disgrace, while another, who is said to have invested well over $100,000, was discovered dead in his garage, hanging from a noose, according to the LA Times.
Founding members of ‘Bunker’, including Shark Tank star Mark Cuban, fashion designer and oil heir August Getty, Oracle’s Larry Ellison, and NBA champion Kristaps Porzingis, were expected to pay a $14,500 monthly fee for club benefits, according to a pitch referenced in a lawsuit seen by the news outlet.
David intended to house a collection of supercars in Beverly Hills once the project’s owners completed a $90 million purchase of Mr C’s Beverly Hills Hotel, according to an executive summary obtained by the LA Times.
However, the entire scheme was described as a “charade designed to lure investors…to fund his own extravagant lifestyle,” according to the lawsuit seen by the outlet.
Another lawsuit claimed, “The Bunker does not exist. There is no ultra-high-end automotive club. There are no members. The business is a mirage.”
Claims that Donald Bren was an absent father surfaced during a 2003 trial when his ex-girlfriend, Jennifer McKay Gold, and their two children, including David, then 11, sued him for millions in retroactive child support.
His lawyer told the LA Times he had already paid about $9 million in support. In the end, a jury ruled in his favour. However, years later, some defrauded investors reportedly said David acted as if the wealthy real estate mogul was always just a phone call away.