Mississauga lawyer charged after people scammed out of more than $10 million
Published August 25, 2022 at 5:10 pm
A Brampton man who runs a Mississauga law practice is facing fraud charges in connection with a series of real estate transactions that police say scammed people out of more than $10 million.
The Mississauga lawyer was arrested yesterday (Aug. 24) at Pearson Airport as he returned to Canada, Peel Regional Police say.
Investigators with the Peel police Fraud Bureau had issued an arrest warrant in January for Shahid Malik, 41, of Brampton.
Police say that between June and December of last year, numerous people retained the services of Malik, the owner/operator of Shahid Malik Law Office, to settle their real estate transactions.
According to investigators, alleged victims turned over millions of dollars to their lawyer in trust for real estate deals to allow them to pay off their outstanding mortgages.
Police say despite numerous requests from the alleged victims to have the money put towards the mortgages, that never happened.
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“As such, each victim has suffered a significant financial loss,” police said in a news release today (Aug. 25).
Malik is charged with defraud the public and breach of trust. He was scheduled to appear in Brampton court today (Aug. 25).
Police believe there may be more victims.
Anyone with information is asked to call fraud investigators at 905-453–2121, ext. 3335, or Peel Crime Stoppers at 1-800-222-8477.
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