Warrant issued for Mississauga lawyer after alleged fraud worth more than $7.5 million

A warrant has been issued for a Mississauga lawyer who police allege defrauded 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 of last year, “numerous victims” retained the services of Shahid Malik, the owner of Shahid Malik Law Office in Mississauga, in order to settle real estate transactions.

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

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

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

Forty-one-year-old Malik, who is a Brampton resident, is wanted on charges of defrauding the public and breach of trust.

Police said there may be other victims.

Anyone with information on the investigation or Malik’s whereabouts is being asked to contact police at 905-453-2121 ext. 3354 or Crime Stoppers anonymously at 1-800-222-8477.

1:57 Scams cost Canadians more than $230M in 2021