A real estate lawyer has been charged with fraud after he allegedly failed to hand over more than half-a-million dollars to a client, York Regional Police investigators say.
The investigation began in May 2024 after the alleged victim contacted authorities about a business transaction that took place in December 2023.
“Over $500,000 was entrusted to the suspect, who was acting as the victim’s real estate lawyer,” police said in a release.
“After a period of time, the victim failed to receive the money and reported it to police.”
Following an investigation police announced an arrest on Thursday.
Ping-Teng Tan, aged 81 of Toronto, faces charges of fraud over $5,000 and possession of property obtained by crime over $5,000.
Police said they released a photo of the suspect “as they believe there may be additional victims due to his position as a real estate lawyer.”
