ONTARIO’S Peel Regional Police 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 and December 2021, numerous victims retained the services of Malik, the owner/operator of Shahid Malik Law Office located in Mississauga, to settle their real estate transactions.

It is alleged that 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, Malik did not allocate these funds towards the outstanding mortgages. As such, each victim has suffered a significant financial loss.

On Wednesday, August 24, Shahid Malik, 41, 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 25.

“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,” said 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.