‘Ponzi-style’ conman jailed for failing to repay victims of £72m fraud

London magistrates sentence Michael Strubel to more than six years for failing to pay compensation

A fraudster who conned people out of more than 70m in a Ponzi-style scheme" claiming he was supplying services to the London 2012 Olympic village and large hotels has been given more than six years in jail for failing to hand back more than 1.4m of illicit profits.

City of London magistrates court committed Michael Strubel to prison for six years and seven months for failing to pay his confiscation order.