Manzoor Moorshed Khan, president of Channel Property Management, was implicated by a Star investigation in September 2011, revealing that he borrowed millions of dollars from condominium corporation in the Greater Toronto Area without them knowing. It is believed at least seven corporations were affected by the alleged fraud, accounting for nearly $20 million in misappropriated funds.
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Justice David Brown of the Superior Court recently ruled that Khan and Channel Property Management were responsible for billing corporations for repair to exterior walls, windows and balconies in buildings at 236 Albion Road, while never actually completing the work.
Khan filed for bankruptcy last year and fled to his native Bangladesh and has not been seen since.
“He has done so much damage… so many people have lost their homes,” Golam Chowdhury, a board member at 236 Albion Road told the Toronto Star. “Hopefully, the government can look into how these frauds can be stopped by putting in checks and balances.”
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