Reza Mohammad Tehrani-Cohen was abducted outside the Aviron Technical Institute in Montreal on Monday.

Reza Mohammad Tehrani-Cohen, a Montreal businessman abducted from a busy street in the Town of Mount Royal on Monday, has been found safe north of the city.

The missing 53-year-old was found Tuesday around 5 p.m. ET somewhere north of Montreal, police said.

The entrepreneur is in good health and is meeting with investigators from the major crimes unit to debrief about his experience, Montreal Police Service spokesperson Const. Yannick Paradis said.

Police thanked the public for their help in tracking the man down.

Tehrani-Cohen was abducted outside Montreal's Aviron Technical Institute, which he owns, as he was leaving work just before 6 p.m. Monday.

Police say eyewitnesses reported seeing Tehrani-Cohen speaking to a group of men who were driving a Jeep Liberty before his disappearance. A witness managed to follow the vehicle for several kilometres before losing track of it.

Authorities were reluctant to release much information about Tehrani-Cohen except a description of his physical appearance. Police said he is known to authorities, but a motive for kidnapping is still not clear.

Victim involved in several lawsuits

CBC obtained court documents showing Tehrani-Cohen currently faces four counts of fraud resulting from an RCMP investigation.

About two dozen lawsuits have also been launched against him in civil court, seeking judgments ranging from $10,000 to more than $100,000.

In the court documents, Tehrani-Cohen is referred to as Reza Tehrani.