Rathore & Petrozza Criminal Proceedings
Below FAAN shares information available in the decisions released by the Court in the criminal proceedings.
On May 28, 2025, judgment was rendered against the defendants, Jawad Rathore and Vince Petrozza for a single count of Fraud Over $5,000 contrary to s. 380 of the Criminal Code.
Justice Moore’s Reasons for Judgment are located at the following link:
On February 2, 2026, Justice Moore released his Reasons for Sentence in respect of the defendants, Jawad Rathore and Vince Petrozza.
Justice Moore’s Reasons for Sentence are located at the following link:
In brief, Justice Moore sentenced each defendant to:
A custodial sentence of 5 years in the penitentiary.
A fine of $12.2 million (each), in lieu of forfeiture, with a corresponding five-year incarceration period in default of payment. They will each have 10 years to pay the fine following release from custody.
A DNA order.
Details regarding the future allocation and payout of the fines to affected parties were not provided (but restricted only to lenders involved in the original syndicated mortgage loans in the Colliers (Barrie, ON) and Sky City (Winnipeg, MB) projects).
We understand that the respondents have appealed their convictions and sentences such that the decision is not final.