Toronto police are warning the public about a dangerous suspect on the loose who is believed to be responsible for kidnapping and beating a man before demanding half-a-million dollars in ransom.

Staff Insp. Mike Earl said the victim was on his way to a recreational hockey game on the evening of Dec. 2, when he was grabbed by two suspects and held against his will at an undisclosed location.

"He was beaten and, I'd say, tortured for a number of hours," Earl said on Thursday. "The victim's family was then contacted by these individuals with a demand for money."

Earl said the suspects first demanded $500,000 in exchange for the man's release and later negotiated the price with the victim's families until police were contacted on Dec. 3.

Earl said investigators oversaw further contact with the suspects until a meet location was agreed upon, at which time undercover officers attempted to arrest two suspects.

Jason King, 31, was arrested at the scene after a confrontation with police, while a second suspect fled.

A Canada-wide warrant has been issued for Cardinell Junior Senior, 32, on the charges of kidnapping and forcible confinement.

"We believe that he is armed and dangerous," Earl said on Thursday. "We are looking for the public's assistance in locating this individual."

The victim was recovered in the area of York Mills Road and Don Valley Parkway following the arrest, after he fell from a rooftop where he was duct taped, blindfolded and left bleeding.

Earl said neighbours discovered the injured man and contacted police.

Police would not identify the victim for his safety, but said he had no previous dealings with the police.