Three men have been charged with conspiracy to defraud investors in an alleged investment fraud related to electrical contracts in the hotel sector. The three men; Jolan Marc Saunders, Michael Dean Strubel, and Spencer Mitchell Steinberg were charged in connection with Saunders Electrical Wholesalers Limited, for making false representations that the company had high value contracts with blue chip hotel chains (and latterly the Athletes Village) that required investment funding. All three have been charged with conspiracy to defraud and Jolan Saunders was additionally charged with acting as a director of a company whilst disqualified. Around £40 million is estimated to have been attracted to the scheme.

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