Owners and property managers at several downtown condominium buildings are accusing a group of individuals of hijacking their boards to get control of multi-million dollar budgets and reserve funds.
CBC Toronto has linked a group, made up of three men and some associates, to condo boards in about a dozen highrises in Toronto and Mississauga over the last several years.
In many of these cases, the individuals controlling the boards don’t appear to own units in the building.
“We’re certainly aware of a half-dozen buildings where attempts have been made by this group to take control of the board of directors,” said Audrey Loeb, a lawyer with Miller Thomson who specializes in condominium cases.
The CBC investigation uncovered allegations of “forged signatures,” irregularities in the election of members to the boards and even the suggestion that a board member at one Toronto condo doesn’t really exist.