Trio face investment charges

By Simon Rocker, March 15, 2013

Three men appeared at City of London Magistrates court on Monday charged in connection with an alleged investment scam.

Jolan Marc Saunders, 36, of Buckhurst Hill; Spencer Mitchell Steinberg, 43, of Radlett; and Michael Dean Strubel, 51, of London have been charged with conspiracy to defraud.

Mr Saunders also faces a charge of acting as a company director while disqualified.

According to the Serious Fraud Office, the men courted investors between 2006 and 2010 on the back of contracts which a London company, Saunders Electrical Wholesalers, was claimed to have with top hotel chains.

Around £40 million was “estimated to have been attracted to the scheme,” the SFO said.

The men were due to attend a preliminary hearing at Southwark Crown Court next Tuesday.

Last updated: 12:45pm, March 15 2013