{"id":19902,"date":"2026-02-02T13:30:42","date_gmt":"2026-02-02T13:30:42","guid":{"rendered":"https:\/\/gangsterismout.com\/?p=19902"},"modified":"2026-02-07T14:00:34","modified_gmt":"2026-02-07T14:00:34","slug":"5-years-for-jawad-rathore-vince-petrozza-fortress-real-developments-inc","status":"publish","type":"post","link":"https:\/\/gangsterismout.com\/?p=19902","title":{"rendered":"Jawad Rathore, Vince Petrozza – Fortress Real Developments Inc."},"content":{"rendered":"

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\nVince Petrozza, left, and Jawad Rathore in November 2014. Both were sentenced to five years in prison and $12.2m each for defrauding almost 800 investors of $31.1m over 4.5 years. The two co-founders of mortgage syndication company Fortress Real Developments Inc. were charged with fraud after a years-long RCMP investigation in 2022. Ex-CEO Jawad Rathore and ex-COO Vince Petrozza were each charged with one count of fraud and one count of offering a secret commission.<\/p>\n

Gerald Chan, Petrozza\u2019s lawyer was outraged. \u201cThis was a flawed investigation dogged by tunnel vision from the outset. There is no reasonable prospect of a conviction.”
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\nFortress Real Developments Inc. was a Canadian real-estate development and lending company that financed early-stage projects using syndicated mortgage investments marketed to retail investors. Their fraud resulted in losses of $24.4m, mostly to unsophisticated investors.
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\nThe mortgages registered against the SkyCity and Collier Centre properties exceeded the value of those properties by as much as 300%, placing the investments at risk because they were not secured. \u201cThe overleveraging caused by the fraud virtually guaranteed there would be loss if the projects failed,\u201d the judge stated in his reasons for sentence. The fraud \u201ctargeted \u2018mom and pop\u2019 investors, upon whom the impact of the losses was much greater and in some cases were financially catastrophic.\u201d
\n\"\"<\/p>\n

Slapped with five years in jail, the crooks face potential jail time of another five years each if they don’t pay their $12.2m fines within a decade of getting out of jail. Their legal counsel said they have appealed the verdict. The judge did not have \u201cany evidence of true remorse.\u201d The Crown had sought 10-year prison sentences for both.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vince Petrozza, left, and Jawad Rathore in November 2014. Both were sentenced to five years in prison and $12.2m each for defrauding almost 800 investors of $31.1m over 4.5 years. The two co-founders of mortgage syndication company Fortress Real Developments Inc. were charged with fraud after a years-long RCMP investigation in 2022. Ex-CEO Jawad Rathore […]<\/p>\n","protected":false},"author":1,"featured_media":19903,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[1117,1115,1116],"class_list":["post-19902","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-fortress-real-developments-inc","tag-jawad-rathore","tag-vince-petrozza"],"jetpack_featured_media_url":"https:\/\/gangsterismout.com\/wp-content\/uploads\/2026\/02\/default.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/posts\/19902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19902"}],"version-history":[{"count":7,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/posts\/19902\/revisions"}],"predecessor-version":[{"id":19938,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/posts\/19902\/revisions\/19938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=\/wp\/v2\/media\/19903"}],"wp:attachment":[{"href":"https:\/\/gangsterismout.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gangsterismout.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}