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The richest real estate developer in America didn’t spend a lot of words in cutting off one of his sons amid allegations of a high-flying con job in Beverly Hills.
Donald Bren, chairman and owner of Irvine Company, issued a 12-word rebuke of son David, who has been embroiled in an alleged fraud scandal, the Daily Mail reported.
“We do not have a personal or business relationship with this individual,” the elder Bren said in a statement.
David Bren allegedly bilked investors out of millions for an apparent private members’ club in Beverly Hills called The Bunker, per the Daily Mail. The 33-year-old son of the 92-year-old real estate titan purportedly used his famous last name to lure investors to the $90 million club that never materialized.
Four separate lawsuits accuse David Bren of fraud, defaulting on leases, forging luxury lifestyle appearances and trespassing into a Beverly Hills home to live without paying rent. Judgments against the embattled real estate heir total approximately $2.6 million and could continue to grow.
Bren has not appeared in court or retained attorneys in the Bunker cases, and as of now has not faced any criminal charges despite referrals to the Los Angeles Police Department and Federal Bureau of Investigation.
Bren promised buyers of memberships access to a $50 million fleet of supercars including Bugattis, Ferraris and Porsches, as well as amenities including luxury restaurants and exclusive wine and private smoking lounges. Angled as a “SoHo House for car lovers,” Bren dropped names of notable figures such as Mark Cuban and Larry Ellison, claiming them as founding members of the $14,500-per-month club.
While The Bunker, backed by the Bren name, attracted interest, investors began filing lawsuits once they picked up a scent of deception.
“The Bunker does not exist. There is no ultra-high end automotive club. There are no members. The business is a mirage,” one lawsuit alleges, according to the Daily Mail.
Bren has deployed his links to his father in pursuing prior real estate deals, sources have said.
“He presented like he could have picked up the phone and called his father right away,” Chris Rising, whose real estate firm was involved in David’s attempts to buy Mr. C’s Cameo Beverly Hills hotel, said, per the Daily Mail.
The Brens’ relationship — at least on the surface — wasn’t as cordial as it seemed.
“He was slick. He played this, like, victim; that’s how he pulled people’s heartstrings. ‘My dad didn’t give me nothing; I could do this, but no one believes in me,’” Mike Tran, a friend of one allegedly defrauded investor, told the Los Angeles Times.
In total, more than a dozen investors claim they sunk hundreds of thousands and even millions of money into The Bunker after falling for David Bren’s purported shtick. They were seemingly swayed by him arriving for property tours in a Lamborghini and hosting luxury events he claimed were sponsored by Louis Vuitton.
Investor Tony Chen was among those buying what Bren was selling. He put hundreds of thousands of dollars to the venture, but eventually died by suicide in 2022 at the age of 46, according to reports.
Tran believes it was a result of Bren’s actions.
“Tony built out this thing for this guy like, ‘Oh man, he’s this underdog. He’s this David. And if he gets this right, he’s going to become Goliath,’” Tran told the Times.
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TRD Staff
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