Thu. Jan 20th, 2022

A ruling has been issued to a Mississauga lawyer who police say has deceived a number of clients, resulting in a loss of more than $ 7.5 million.

Peel Regional Police said in a statement that between June and December last year, “several victims” retained the services of Shahid Malik, the owner of the Shahid Malik Law Office in Mississauga, to settle real estate transactions.

Police said Malik allegedly received more than $ 7.5 million in trust in real estate transactions to allow customers to pay off outstanding mortgages.

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“It is further alleged that despite the numerous requests of the victims, the suspect did not allocate these funds to the outstanding mortgages,” the statement said.

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“As such, every victim has suffered a significant financial loss.”

Malik, 41, a resident of Brampton, is wanted on charges of fraud by the public and breach of trust.

Police said there may be other victims.

Anyone with information about the investigation or Malik’s whereabouts should contact police at 905-453-2121 ext. 3354 or Crime Stoppers anonymously at 1-800-222-8477.

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