Tong (Thomas) Liu, head of LeMine Investment Group, is a developer who dreams big but can’t seem to get anything built. While he tied up valuable land and collected millions of dollars worth of deposits without ever breaking ground, purchasers watched their money lose value. “I dropped him and told everybody I could to do the same.” “I’ll be happy to get my money out and move on,” said Ayesha Karatella, one of the Central Park Ajax purchasers. In September 2014, he signed a deal with another developer to take over a multi-phase condo development on land owned, in part, by the Town of Ajax. Liu also insisted The Academy project is still alive and that Zhao’s funds were used exclusively for its development.

Source: thestar September 27, 2018 11:26 UTC