Their fears are coming true.

Hundreds of people across Toronto who own units in condo buildings allegedly defrauded of millions of dollars by a former property management company are now coughing up big bucks for special assessment fees.

“I have just been asked to pay $975 in special assessment fees . . . every owner has to pay,” said Avijit Barua, owner of a unit at 10 Marbrooke Lane in Etobicoke, one of the affected condo corporations.

“It’s a lot of money,” he said. “Mr. Khan gave us a lot of problems.”

A Star investigation in September 2011 revealed that Manzoor Moorshed Khan, president of Channel Property Management, borrowed millions of dollars against condominium corporations in the Toronto area without their knowledge.

At least seven corporations are believed to be victims of Khan’s alleged fraud.

Lawyers estimated that the total misappropriation topped $20 million. (10 Marbooke Lane is on the hook for about $4.5 million, said Barua.)

Soon after the alleged fraud came to light, Channel was evicted from its swanky Woodbridge office for not paying rent, and Khan, reportedly, fled to his native Bangladesh. Khan has not been seen since.

Several buildings filed civil suits against Channel and Khan, and Toronto police are investigating.

One condo corporation is suing Khan, his company and several financial firms, including Equitable Trust, which loaned money, for $3.1 million. A court hearing is scheduled for Tuesday.

25 Grenville St., a luxury condo with about 200 units in downtown Toronto, alleged that Khan registered a fake bylaw without the board’s knowledge that authorized him to borrow more than $3 million against the property, according to court documents. That money was allegedly funnelled into a separate bank account.

One resident said owners collectively had already been asked to pony up $300,000 in special assessment fees.

“It was a hardship,” said the resident, who did not want to be named. “We were told we probably will have another $100,000 assessment over the winter.”

The resident also said that some condo-owners were suing board members, “who they also feel should have been more diligent.”

In most cases, special assessment fees are to be used for the legal costs of suing.

Reverberations of the alleged fraud are being felt across the city. A board member at 236 Albion Rd., a highrise in north Etobicoke, said Khan is accused of leaving two outstanding loans totaling $5.5 million.

“We had a $1 million assessment in one year, from September 2010 to August 2011, said Golam Chowdhury, adding owners paid as much as $1,200 a month for maintenance during the special assessment. There were also several unpaid bills, he said.

Chowdhury, a software developer who has been calling on politicians to amend the laws to better protect condo owners, said the alleged fraud had forced some owners into bankruptcy.

“Our property value has depreciated by almost 50 per cent,” he said. “It’s been a really tough time.”

A majority of the condos where Channel Property Management worked are owned by immigrants, who are still shaken up by what happened.

“We thought it (a condo unit) was a good investment,” said Maria R., who lives at 2121 Roche Ct. in south Mississauga. “It wasn’t.”

Condo fees have gone up about 25 per cent in the past year, she said.

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It isn’t clear how an outstanding loan of $900,000 will be paid, she said. Channel was the property manager until August 2011, when the “loan” was discovered.

Meanwhile, Barua said it’s almost impossible to sell a condo in his building at 10 Marbrooke Lane because “people know there are outstanding loans and legal troubles,” he said, adding he bought his two-bedroom unit just a year before the alleged fraud came to light.

“I really don’t know what I am going to do now.”