Toronto police are investigating claims that a condominium developer left the city with deposits from prospective buyers.
Police told CTV Toronto they have received at least 16 complaints about Centrust Development Group.
Buyers said the developer was selling residential and commercial properties in the building, which had not yet been built. Buyers provided down payments, and were expected to pay the full price upon construction.
The developer is accused of leaving Toronto with $12 million in buyers' deposits.
Some of the down payments were made as early as 2009, for the property in the Yonge Street and Finch Avenue area.
One investor told CTV Toronto he'd invested $40,000 in 2011. Investor Thomas Yudong Ma said approximately 150 people made down payments.
In January 2014, he said the company advised investors the project had been cancelled, and the deposits would be returned, but those involved were never reimbursed. Police have not confirmed details, but said that the fraud unit was investigating.
A group of owners plan to gather in Richmond Green Park, at 4 p.m.
