Fortress Project Outcomes – Summary Analysis
The following analysis is based on records obtained from FAAN Mortgage Administrators, the court-appointed trustee following the RCMP raid of Fortress. These records include information filed with the court and documentation published by FAAN. During the trial, the defence stated that Fortress had many “successful” projects. While some projects did return investor funds in full, a significant number of projects failed. As shown in the tables below, 28 development projects returned only a portion of the invested principal, while 18 projects did not return any principal to investors. Based on the available records, the total investor loss to date is approximately $428 million. In addition, two projects have not yet exited and remain in distress.
Investors seeking information specific to their project status or outcome are encouraged to contact FAAN Mortgage Administrators, the trustee overseeing the administration of these projects.
Outcome Summary of Fortress SML Projects (post 2018)
Projects with NO Repayment to SML Investors
Projects with Partial Repayment to SML Investors
Projects with Full Repayment to SML Investors
Projects in Distress
The following is a summary in presentation form of the Fortress Projects and review of total funds paid to investors and total losses. Please view this presentation on your PC or iPad for optimal viewing