Watchdog to Investigate ‘Potential Improprieties’ in Accounts Belonging to GTA Real Estate Brokerage

Watchdog to investigate ‘potential improprieties’ in accounts belonging to GTA real estate brokerage

Ontario’s real estate watchdog, the Real Estate Council of Ontario (RECO), is currently helming the investigation into a Toronto-area real estate brokerage after discovering a multi-million-dollar shortfall in its accounts, Peel Regional Police say.

Toronto-area real estate brokerage iPro Realty shuttered due to financial mismanagement, affecting 2,400 agents

Ontario’s regulator said it identified ‘a significant shortfall’ in the accounts of iPro Realty Ltd., which employs 2,400 agents.

RECO to investigate missing millions at iPro Realty, Peel police say. Police will not launch criminal investigation for now

Peel police say they will not launch a criminal investigation at this time.

Police aware of millions of lost funds connected to Ontario-based real estate brokerage

Peel Regional Police have confirmed they are aware of concerns about financial mismanagement at a Mississauga-based real estate brokerage firm, but have not launched a formal investigation. Messages sent to the media by police indicate they have been in contact with the body that regulates the real estate industry in Ontario, but is waiting on the findings of the Real Estate Council of Ontario (RECO) before any action is taken. Police said a req…