Why this chapter is so important?
News / GTA
Toronto Star
Property manager
bilked $20M in condo fraud, victims claim
More than 1,000 condo
owners
across Toronto fear they are on the hook for millions of dollars as
victims of an alleged property fraud. Lawyers estimate the total
misappropriation may exceed $20 million.
This was the headlines that shocked the Ontario condo industry on 15
September 2011.Yet to me, that remarkable $20 million fraud is of far
less interest to condo owners than the day-to-day regular stealing
Manzoor Khan controlled at the condos he managed.
It is these smaller frauds, and not the far more spectacular $20
million
fraud from a half-dozen condo corporations, that need to be studied.
The fake loan by-law frauds was a once-off scheme that can never be
repeated but the run of the mill stealing that Khan performed as a
standard business practice will always be with us.
This section details with as much information on Manzoor Khan and
Channel
Property Management as I could find. It is a story of an extraordinary
bold thief working in the condominium service industry where fraud is a
constant
danger.
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