Investigators from the Fraud Bureau have issued a Warrant for a Mississauga lawyer, alleged to have defrauded a number of clients related to real estate transactions resulting in a loss of over 7.5 million dollars.
“Between June 2021 and December 2021, numerous victims retained the services of 41-year-old Shahid Malik, the owner/operator of Shahid Malik Law Office located in Mississauga, to settle their real estate transactions,” the Peel Regional Police said in a statement.
The statement further added that Shahid Malik allegedly received more than $7.5 million in trust for real estate transactions to allow the victims to pay off their outstanding mortgages.
It is further alleged that despite the victims’ numerous requests, the suspect did not allocate these funds towards the outstanding mortgages, the Peel Regional Police said, adding that as such, each victim has suffered a significant financial loss.
Shahid Malik, a resident of Brampton, is currently wanted for the charges of defrauding the public and breach of trust.
The Peel Regional Police also added that investigators believe that there may be further victims and are urging them to contact investigators at 905-453-2121, extension 3354.
Anyone with information in relation to the whereabouts of Shahid Malik is asked to contact investigators at 905-453-2121, extension 3354. Information can also be left anonymously by calling Peel Crime Stoppers at 1-800-222-TIPS (8477), or by visiting peelcrimestoppers.ca