Jail for Ponzi fraudsters who blew £78m on Bentleys and yachts

Three Ponzi fraudsters who blew the £78million they stole from investors on Bentleys, Porsches and yachts were jailed for a total of 20 years today (tues). Spencer Steinberg, 46, Michael Strubel, 54, and Jolan Saunders, 40, claimed they had won a contract to supply electrical goods to the Olympic Village ahead of the 2012 London games. They said Saunders Electrical Wholesalers Limited (SEWL) also supplied goods such as including trouser presses and kettles to major hotel chains. But SEWL was…