07/22/2011 07:47 EDT | Updated 09/21/2011 05:12 EDT

GMP Capital Co-Founder Declared 'Missing Person' As Police End Search

Flickr: RE/MAX Parry Sound

THE CANADIAN PRESS -- PARRY SOUND, Ont. - A police marine unit near Parry Sound, Ont., has called off its search for a Toronto businessman who was last seen Monday in the waters of Lake Joseph.

Provincial police say Bradley David Griffiths was seen in distress in the water at around noon Monday and a motor boat was seen operating without a driver.

Griffiths is a co-founder of GMP Capital Inc., a Toronto-based investment dealer formerly known as Griffiths McBurney & Partners. He left the firm more than 10 years ago.

More recently he has been chief financial officer and chairman of the board of United Hunter Oil and Gas Corp. He also founded Griffiths Energy and Resources.

A private dive team was called in to assist with the search on Tuesday because of the depth of the water, estimated at about 90 metres.

A statement from the West Parry Sound detachment of the Ontario Provincial Police said its marine unit had assisted in the search until Thursday but then brought its involvement in the search to a close.

The police said Griffiths is now deemed a missing person.

"The OPP has been in consultation with the Griffiths family who advised that the private company will continue its search of Lake Joseph."