In a news release on the Fortress Real Developments Inc. investigation, the Royal Canadian Mounted Police highlighted that the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) provided actionable financial intelligence supporting a multi-year case that resulted in the conviction and sentencing of Jawad Rathore and Vincenzo Petrozza for syndicated mortgage investment fraud. Rathore and Petrozza were each convicted of one count of fraud over $5,000 under the Criminal Code. The Ontario Court of Justice found they deceived investors about the security being provided in syndicated mortgage loans, including through non-disclosure of known “as is” values, and intentionally misled investors about the value of their secured interest to induce investment. On February 2, 2026, each received a five-year penitentiary sentence, a DNA order, and a restitution order of $12.2 million, with a corresponding five-year period of incarceration in default of payment and 10 years to pay; the court described the fraud as lasting almost 4.5 years and affecting almost 800 investors. Rathore and Petrozza have filed an appeal against conviction with the Ontario Court of Appeal.
Financial Transactions and Reports Analysis Centre of Canada 2026-02-05
Financial Transactions and Reports Analysis Centre of Canada credited for intelligence supporting Royal Canadian Mounted Police convictions in Fortress syndicated mortgage fraud
The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) provided financial intelligence that supported the conviction of Jawad Rathore and Vincenzo Petrozza for syndicated mortgage investment fraud, resulting in five-year sentences and a $12.2 million restitution order. Rathore and Petrozza have appealed their convictions.