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.
It is alleged that Shahid Malik 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. As such, each victim has suffered a significant financial loss.
Shahid Malik, a resident of Brampton, is currently wanted for the following charges: Defraud the Public and Breach of Trust.
Investigators believe that there may be further victims and are urging them to contact investigators at 905-453-2121, extension 3354.