\u201cHe told us, \u2018Oh, it\u2019s very good, because you can make extra money for your retirement,’\u201d she told us. \u201cAt first, the interest payments were coming in on a regular basis.\u201d<\/p>\n
But she says the payments stopped in April of 2025. When we reached Totrov months ago, he told Speakers Corner he was hoping to pay everyone back by last March.<\/p>\n
Now in July, several investors we spoke with say they have not seen a dime.<\/p>\n
\u201cThe money Totrov promised to return in March never came,\u201d Vorobyova said.<\/p>\n
That\u2019s despite some people, who invested with Totrov, receiving court orders.<\/p>\n
Elena Krassikova \u2014 who also invested money with Totrov and sued \u2014 received an Ontario superior court of justice judgement, ordering Totrov to pay her back more than $200,000 \u2014 which she\u2019s still waiting to receive.<\/p>\n
All have filed complaints with FP Canada, the regulatory body for Financial Planners, which has taken action against Totrov since our first report aired.<\/p>\n
FP Canada\u2019s Hearing Panel officially suspended his financial planning certification in late May. In their decision, published in June, the panel believed Totrov had continually misrepresented high risk investments to the public.<\/p>\n
\u201cThe Hearing Panel found reasonable grounds to believe a significant risk of harm exists, given Mr. Totrov\u2019s extensive disciplinary history, multiple complaints indicating a pattern of misconduct, and related civil proceedings suggesting widespread and ongoing harm,\u201d the Panel wrote in its decision.<\/p>\n
According to FP Canada, Totrov was also the subject of two prior disciplinary matters, in 2006 and 2023, involving misconduct similar to what\u2019s being alleged in the latest round of complaints.<\/p>\n
Speakers Corner reached out to Totrov who declined an interview and issued an emailed statement instead where he indicated re-payment to all investors is forthcoming.<\/p>\n
\u201cThis past Friday, I finally received a financing commitment for one of the borrower\u2019s properties,\u201d he told us. \u201cThe commitment has already been signed, and the lender\u2019s retainer has been paid.\u201d<\/p>\n
He says this new commitment will allow him to receive the funds to pay back all investors waiting for payment.<\/p>\n
\u201cI also met with the agent on Saturday to discuss the closing procedure. If everything proceeds as expected, the lenders should be repaid in August.\u201d<\/p>\n
Totrov said he too is a victim. He told us the people he secured investment loans for stopped making payments.<\/p>\n
\u201cMy mistake was placing too much trust in the borrowers and extending additional time based on that trust. I accept full responsibility for exercising poor judgment in making that decision.\u201d<\/p>\n
He also told us he regrets personally guaranteeing the loans for those borrowers.<\/p>\n
\u201cI did not borrow these funds for my own benefit or personal use. The borrowed funds were advanced to and used by the borrowers, who received and spent the money. My priority now is to ensure that my clients are repaid as quickly as possible.\u201d<\/p>\n
When we told Investors Totrov\u2019s hope is to repay them by next month, they remain skeptical.<\/p>\n
\u201cWe\u2019ve heard those promises so many times in the past,\u201d Vorobyova told us when we called her. \u201cI\u2019ll believe it when I see it.\u201d<\/p>\n
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