Police Stop Heydary Probe Into Missing Funds

Photo: Law Society of Upper Canada

Photo: Law Society of Upper Canada

The Law Times is reporting that the Toronto Police Financial Crimes Unit is no longer investigating Heydary Hamilton PC, in relation to missing client funds. Police had spoken with Hasan Abuzour, who is missing $3.6 million once held in trust for him by Heydary Hamilton.

Javad Heydary, the sole director of Heydary Hamilton, is presumed dead. He departed for Iran while being investigated for missing funds — but the fact of his death is still in question.

The Ontario Court of Appeal dismissed an appeal by Heydary Hamilton Jan. 30, after no one appeared in court to represent the firm. In that case, Heydary Hamilton PC v. Dil Muhammad, the law firm sued a former client and its new lawyer for breach of contract and “interference with economic relations.”

On Jan. 24, counsel for Heydary Hamilton removed himself from the case because he was unable to receive instructions from his client, the appeal court said in a ruling yesterday.

An LSUC report on Heydary Hamilton’s financial records found the firm repeatedly transferred trust funds to a general account, which paid for its operational expenses. The firm’s revenue was “nowhere near sufficient” to afford its $500,000 monthly operational expense, the report said.

“These transfers, which exceed 2.7 million dollars, were the major source of inappropriate withdraws of trust funds throughout this period,” according to the LSUC report.

 

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