I have heard of this mysterious creature and agree that almost every lake or large body of water, has it's own urban legend.
I have a book somewhere called Gateway to Oblivion....
You'll have to forgive me, as I've forgotten the author's name, ( also plz cut me some slack, it's my first post

).
I'll try and dig it up..maybe it contains more info on the Lake Ontario monster.
It has many cool and unexplained stories, which regard the Great Lakes as North America's - Bermuda Triangle.
Maybe someone else in here has the book, and actually knows where it is.
Mimic