A number of investors who said they have lost money to Toronto rower, Dominic Khan told similar stories.
They were caught up in Khan’s plan to renovate a property in northern Ontario, rent it out and then use the profits to run a camp for underprivileged kids.
“I was stupid enough to be conned by that,” said philanthropist and financier, Donald Ross, who added he loaned Khan $200,000. Ross said he was going to lend Khan another $200,000, until he saw his lack of progress on the property.
READ MORE: Questions raised about funding for inner city kids’ rowing program in Toronto
“It was obvious to me that I’d been had and it was money down the drain,” he said.
Not a penny of his $200,000 investment has been repaid. Global News spoke to more than a dozen people who say they have also lost money to Khan.
“I completely trusted him,” said a woman who loaned Khan $10,000. She did not want to be identified but told Global News Khan refused to pay her back, even after she was diagnosed with cancer.
“I left him messages and said, ‘Okay its time to pay me back now please, because when I get better, I want to go on a trip,'” she said.
WATCH: Questions arise about money raised for Toronto kids’ rowing program
Khan said the property people were investing in was foreclosed on and investors who lost money were in it for profit and business is business.
But Khan sent out a press release in 2014, in which he described the property as a camp for “underprivileged First Nations and inner-city kids” writing that “Camp Viking is a key piece in our development.”
Khan said there must have been a mistake in the release to not have mentioned anything about it being a for-profit business, owned by him.
READ MORE: Allegations pile up over claims funds mishandled at Toronto kids’ rowing program
Khan also ran Bayside Rowing which sold memberships to pay for a rowing program for inner city kids.
There have been questions about whether all of the money raised for the kids was spent appropriately.
Khan said he intends to pay everyone he owes money to back, except Ross. He said Ross should have loaned him the next $200 thousand.
WATCH: Alleged mishandling of funds claims raised about Toronto kids’ rowing program