Region of Peel – Investigators from the Fraud Bureau have arrested and charged a Mississauga lawyer, Shahid Malik, who is alleged to have defrauded victims related to real estate transactions resulting in losses in excess of $10 million dollars.
Between June 2021 and December 2021, numerous victims retained the services of lawyer, Shahid Malik, the owner/operator of Shahid Malik Law Office located in Mississauga, to settle their real estate transactions.
According to police, it is alleged that Shahid Malik received millions of dollars 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, Shahid Malik did not allocate these funds towards the outstanding mortgages. As such, each victim has suffered a significant financial loss.
On Wednesday, August 24th, 2022, Shahid Malik, the 41-year-old male from Brampton, was arrested on the strength of an outstanding warrant at Pearson International Airport upon returning to Canada. He has been charged with Defraud the Public and Breach of Trust.
He appeared at the Ontario Court of Justice in Brampton and was held pending a bail hearing scheduled for August 25th, 2022.
“Mr. Malik used his position of trust to defraud a substantial amount of money from hard-working people in our community. This investigation and arrest demonstrated our commitment to pursuing offenders, preventing further victimization and the value of collaboration with the Canada Border Service Agency.” – Superintendent Hubie Hiltz
Investigators believe that additional victims may exist. Anyone with information is asked to contact the Fraud Bureau at (905) 453–2121, ext. 3335. Information may also be left anonymously by calling Peel Crime Stoppers at 1-800-222-TIPS (8477), or by visiting peelcrimestoppers.ca.
