Real estate investor cheats sentenced

Bernardo Giangrosso and his partner Naida Allarde-Giangrosso were sentenced today in relation to their roles in promoting the sale of syndicated mortgages to real estate investors.

Giangross received 90 days in jail and two years’ probation while Allarde-Giangrosso was sentenced to a $5,000 fine and two years’ probation after they pleaded guilty to one count of breaching an Ontario Securities Commission (OSC) cease trade order.

The couple has been charged in December 2013 by the OSC’s Joint Serious Offences Team (JSOT), and had been prohibited from trading through a company known as Starboard View Homes since January 2013.

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