Manzoor Khan &
Channel Property Management
“When you have been on the board for
a while you will learn that you have to work outside the Condo Act and
that taking graft is common practice in this business.”
—Manzoor Moorshed Khan
In September 2011, The Channel Property Management scandal became a
Canadian
media sensation. Coming out of nowhere, Manzoor Khan became the best
known condominium property manager in the country.
This should never have happened. By the spring of 2007, it was known by
at least a few of the players in the industry that Channel Property
Management was forced out of one condo corporation due to allegations
of fraud.
By the summer of 2007, one of the directors of PCC #143 was taking 200
pages of documents,
that proved that Channel Property Management had
falsified documents and committed fraud, to his local politicians, the
Peel Regional and
Ontario Provincial police forces, to the media and to ACMO, the
industry association that Channel belonged to.
The police said
that they had a year long backlog of fraud cases so this case would
have
to wait its turn. No one else listened; no one took the allegations
seriously.
So for Manzoor Khan and Channel it was business as usual as they robbed
condo owners for a further four years.
Most successful
condo crook of all?
Manzoor Khan may be the most successful condominium crook in North
America as he stole an estimated $30 million of which he kept most for
himself.
There was an organized gang
of condo property managers, contractors and
lawyers in Las Vegas who stole a quarter of a billion dollars but
that
was split between 40 to 50 of them. That works out to only about $5
million each. Besides four of them committed suicide and most of the
rest have or are going to jail while Mr. Khan and his loot is safely
out of the country.
Here is the story—as much of it as I could gather—of the last five
years of Channel Property Management and the biggest known condominium
fraud—so far—in Canadian history.
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