In January, police issued an arrest warrant for Shahid Malik, 41, of the Shahid Malik law firm in Mississauga, after he allegedly embezzled money he took from his clients.
Police said several people retained Malik’s services between June 2021 and December 2021 to settle their real estate transactions.
Malik allegedly received millions of dollars in trust that would allow his clients to pay off their outstanding mortgages.
However, he allegedly did not use the funds to make the necessary payments despite numerous requests from his clients.
Police said it resulted in damage estimated at more than $10 million.
On Thursday, police said Malik was arrested at Pearson International Airport on Wednesday when he returned to Canada.
He was charged with defrauding the public and breach of trust.
“Mr. Malik used his position of trust to defraud a significant amount of money from hard-working people in our community,” Peel Police Supt. Hubie Hiltz said in a news release.
“This investigation and arrest demonstrated our commitment to pursue offenders, prevent further victimization and the value of working with Canada Border Services Agency.”
Police believe there may be more victims and are urging them to contact the Fraud Bureau at 905-453-2121 ext. 3335.
