David Bren told investors he was creating an exclusive private space, with monthly dues costing $14,500, a high-class clubhouse and ultra-luxury cars available to members.
The project even had a bro-centric sounding name: The Bunker.
As presented, members could just pluck a Ferrari, Bugatti, Porsche, Maserati or Rolls Royce from among the club’s $50 million fleet to use for an afternoon.
Referring to a client of his – whose “family has billions of dollars” – LA-based attorney Joshua Ritter told The Post, “He met David Bren through a friend who was also well connected in Los Angeles.
“They were, for lack of a better term, part of a playboy community of guys who go out, live a kind of VIP lifestyle and like to invest in things. David was introduced as the son of Donald Bren, which immediately gave him credibility.”
Bren — sometimes trading off the name of his real estate billionaire father Donald Bren, who he is estranged from — took in rounds of cash from various well-heeled investors to make The Bunker a reality between 2020 and 2022.
However, no hint of the club has ever materialized.
Lawsuits alleging misappropriation of funds have since piled up, but only fractions of repayments have been made. One person who put up big bucks – and encouraged at least one other to do the same – died by suicide.
A promised investment in the all-female racecar W Series, which had hopes to become an alternative to Formula 1, never materialized. That “dramatically impacted” the cash flow of the racing league, which went into liquidation after its 2022 season.
A source who spent time with Bren described him to The Post as dressing in a “California casual style,” and being “easygoing, laid back, fairly introverted.”
But it seems he was a little more outgoing when it counted.
In the social environments of nightclubs, restaurants and parties, Bren pitched an idea that seemed irresistible.
“He starts discussing the Bunker,” said Ritter. “It’s going to be an elite club that’s going to include expanded access to exclusive cars and all sorts of things, and they’re going to partner with F1.”
In the social environments of nightclubs, restaurants and parties, Bren pitched an idea that seemed irresistible.
He even looked like he had the connections, as “he hosted [at least one] party in a suite at an F1 race,” Ritter added.
Ritter’s client made an initial investment of $75,000. Then, he added, “the way it was sold is that instead of just investing, why don’t you become a founding member and give me some more money?”
Founding-member status, as it was presented, would have put anyone in good company. Bren maintained that oil heir August Getty, venture capitalist and Shark Tank” personality Mark Cuban, Oracle founder Larry Ellison and NBA star Kristaps Porzingis were all founding members.
This may have also been wishful thinking. Through his publicist, Getty denied the association. Via email, Cuban wrote, “I have no idea who [Bren] is.”
Someone else who doesn’t want to be associated with him? His 92-year-old father, Donald, who runs real estate developer Irvine Company.
“There has never been a relationship or association with the company or Mr. Bren with David,” a source familiar with the situation told The Post.
“The last time they saw each other was in court in 2010. We want to make clear that there is no association.”