Metro News—Toronto Condo
Metro Toronto's investigative and special features reporter.
12 September 2013
Jessica Smith wrote a short five-part series on the hidden corruption
in Toronto's condominium industry. It is well worth reading.
As you read this chapter on condo corruption, you will see that
corruption is not a victim-less crime. Many owners have lost their
investments and their homes when expensive repairs were required and
the money that was to be set aside to pay for them was stolen or
misused and they were hit with huge special assessments or loan
The condominium industry is not capable of preventing corruption.
We do not hear of property managers, condo auditors or corporation
lawyers blowing the whistle on corruption. In fact, in most cases, it
is an individual owner, or a newly elected director, who discovers that
fraud has taken place.
is fraud and corruption?
Who knows but here is a fascinating comment from David Fleming, the
host of the Toronto Reality Blog.com to a reader who said that
he would never by a condo and he referred to the above mentioned news
"Jason H – I understand your point.
But not ALL condos are managed by
embezzlers, and if you want to live downtown, you have to 'risk' it."
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